Spotify Technology (NYSE:SPOT) Now Covered by Analysts at FBN Securities

FBN Securities started coverage on shares of Spotify Technology (NYSE:SPOT) in a research note issued to investors on Friday, Marketbeat.com reports. The firm issued a sector perform rating and a $645.00 price objective on the stock.

Other equities research analysts also recently issued research reports about the company. Macquarie raised their price target on Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Guggenheim reissued a “buy” rating and set a $675.00 price objective on shares of Spotify Technology in a report on Monday, February 24th. KeyCorp upped their target price on Spotify Technology from $555.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. The Goldman Sachs Group lifted their price target on shares of Spotify Technology from $550.00 to $695.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Finally, Redburn Atlantic started coverage on shares of Spotify Technology in a research note on Tuesday, March 11th. They issued a “neutral” rating and a $545.00 price objective for the company. Nine equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, Spotify Technology has a consensus rating of “Moderate Buy” and a consensus target price of $552.47.

Spotify Technology Price Performance

Shares of NYSE:SPOT opened at $559.76 on Friday. Spotify Technology has a one year low of $260.80 and a one year high of $652.63. The firm has a market capitalization of $114.59 billion, a price-to-earnings ratio of 94.08 and a beta of 1.66. The company’s fifty day moving average price is $578.28 and its 200-day moving average price is $477.12.

Institutional Trading of Spotify Technology

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Jennison Associates LLC bought a new position in shares of Spotify Technology in the 4th quarter worth approximately $1,335,575,000. GQG Partners LLC bought a new position in Spotify Technology in the fourth quarter worth $800,725,000. Forsta AP Fonden purchased a new position in Spotify Technology during the fourth quarter valued at $619,600,000. Geode Capital Management LLC boosted its holdings in shares of Spotify Technology by 561.6% during the 4th quarter. Geode Capital Management LLC now owns 1,483,392 shares of the company’s stock valued at $659,841,000 after buying an additional 1,259,183 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Spotify Technology in the 4th quarter worth about $396,028,000. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

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.