Spotify Technology (NYSE:SPOT) Price Target Raised to $475.00 at Barclays

by · The Cerbat Gem

Spotify Technology (NYSE:SPOT – Get Free Report) had its price target upped by equities researchers at Barclays from $385.00 to $475.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 4.12% from the company’s previous close.

Several other analysts have also issued reports on the company. Pivotal Research upped their target price on Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a research note on Wednesday. Rosenblatt Securities lifted their price target on shares of Spotify Technology from $399.00 to $438.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. TD Cowen lifted their price target on shares of Spotify Technology from $273.00 to $356.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Guggenheim lifted their price target on shares of Spotify Technology from $400.00 to $420.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $396.17.

Check Out Our Latest Analysis on SPOT

Spotify Technology Price Performance

NYSE:SPOT traded up $36.81 during trading hours on Wednesday, hitting $456.20. 5,543,713 shares of the company’s stock traded hands, compared to its average volume of 1,887,435. The firm has a market cap of $90.81 billion, a P/E ratio of 124.32 and a beta of 1.56. Spotify Technology has a 52 week low of $170.62 and a 52 week high of $462.39. The business’s fifty day simple moving average is $369.70 and its two-hundred day simple moving average is $334.73. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.31.

Hedge Funds Weigh In On Spotify Technology

Several large investors have recently modified their holdings of SPOT. Transcendent Capital Group LLC purchased a new position in Spotify Technology in the 2nd quarter worth about $25,000. Benjamin Edwards Inc. raised its position in Spotify Technology by 214.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock worth $27,000 after buying an additional 58 shares during the last quarter. Larson Financial Group LLC raised its position in 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. raised its position in Spotify Technology by 9,900.0% in the 2nd quarter. Mather Group LLC. now owns 100 shares of the company’s stock worth $31,000 after buying an additional 99 shares during the last quarter. Finally, V Square Quantitative Management LLC purchased a new position in Spotify Technology in the 3rd quarter worth about $40,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Company Profile

(Get Free Report)

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.

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