Spotify Technology (NYSE:SPOT) Given New $530.00 Price Target at JPMorgan Chase & Co.

Spotify Technology (NYSE:SPOT) had its target price hoisted by JPMorgan Chase & Co. from $425.00 to $530.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

SPOT has been the topic of several other reports. TD Cowen boosted their target price on shares of Spotify Technology from $273.00 to $356.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lifted their price target on Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Phillip Securities reissued an “accumulate” rating and issued a $485.00 price objective (up from $420.00) on shares of Spotify Technology in a research note on Wednesday. Evercore ISI lifted their target price on shares of Spotify Technology from $420.00 to $460.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, Benchmark upped their price target on shares of Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a report on Monday. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, Spotify Technology presently has an average rating of “Moderate Buy” and an average price target of $412.72.

Spotify Technology Stock Performance

NYSE SPOT opened at $467.34 on Wednesday. The stock has a market capitalization of $93.03 billion, a price-to-earnings ratio of 126.99 and a beta of 1.56. The business’s 50 day moving average is $369.70 and its two-hundred day moving average is $334.73. Spotify Technology has a 12-month low of $170.62 and a 12-month high of $473.00. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.31.

Institutional Investors Weigh In On Spotify Technology

Large investors have recently added to or reduced their stakes in the company. Transcendent Capital Group LLC purchased a new position in Spotify Technology in the 2nd quarter valued at about $25,000. Benjamin Edwards Inc. raised its holdings in shares of Spotify Technology by 214.8% during the second quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock worth $27,000 after purchasing an additional 58 shares during the period. Larson Financial Group LLC lifted its position in shares of Spotify Technology by 51.6% in the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after buying an additional 33 shares during the last quarter. Mather Group LLC. boosted its holdings in shares of Spotify Technology by 9,900.0% in the 2nd quarter. Mather Group LLC. now owns 100 shares of the company’s stock valued at $31,000 after buying an additional 99 shares during the period. Finally, V Square Quantitative Management LLC bought a new stake in shares of Spotify Technology during the 3rd quarter valued at about $40,000. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Company Profile

Spotify Technology SA, together with its subsidiaries, provides audio streaming subscription services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.