Research analysts at Redburn Atlantic started coverage on shares of Spotify Technology (NYSE:SPOT - Get Free Report) in a report released on Tuesday. The firm set a "neutral" rating and a $545.00 price target on the stock. Redburn Atlantic's target price points to a potential upside of 9.85% from the stock's previous close.
Several other brokerages have also recently weighed in on SPOT. Morgan Stanley increased their price target on Spotify Technology from $550.00 to $670.00 and gave the company an "overweight" rating in a research note on Wednesday, February 5th. Bank of America increased their target price on shares of Spotify Technology from $430.00 to $515.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Benchmark upped their price objective on shares of Spotify Technology from $600.00 to $720.00 and gave the company a "buy" rating in a research note on Wednesday, February 5th. Citigroup increased their price objective on shares of Spotify Technology from $540.00 to $720.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Finally, Rosenblatt Securities restated a "neutral" rating and issued a $658.00 target price (up previously from $473.00) on shares of Spotify Technology in a report on Wednesday, February 5th. Eight research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, Spotify Technology currently has an average rating of "Moderate Buy" and a consensus target price of $540.68.
Check Out Our Latest Stock Analysis on Spotify Technology
Spotify Technology Price Performance
Shares of Spotify Technology stock traded up $6.87 during trading on Tuesday, hitting $496.11. The company's stock had a trading volume of 877,351 shares, compared to its average volume of 2,233,521. The stock has a market cap of $101.56 billion, a price-to-earnings ratio of 84.37 and a beta of 1.66. Spotify Technology has a 52 week low of $249.58 and a 52 week high of $652.63. The stock has a 50-day moving average price of $548.54 and a two-hundred day moving average price of $455.47.
Institutional Trading of Spotify Technology
Several institutional investors and hedge funds have recently modified their holdings of SPOT. Massachusetts Financial Services Co. MA grew its holdings in Spotify Technology by 3.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,492,170 shares of the company's stock worth $1,286,969,000 after buying an additional 102,786 shares in the last quarter. Jennison Associates LLC bought a new stake in shares of Spotify Technology in the 4th quarter worth $1,335,575,000. FMR LLC raised its holdings in shares of Spotify Technology by 30.2% in the fourth quarter. FMR LLC now owns 2,041,387 shares of the company's stock valued at $913,276,000 after purchasing an additional 473,569 shares during the last quarter. State Street Corp lifted its position in shares of Spotify Technology by 1.5% during the third quarter. State Street Corp now owns 1,997,323 shares of the company's stock valued at $736,073,000 after purchasing an additional 28,864 shares in the last quarter. Finally, Schroder Investment Management Group boosted its holdings in Spotify Technology by 0.4% during the fourth quarter. Schroder Investment Management Group now owns 1,912,937 shares of the company's stock worth $855,810,000 after purchasing an additional 7,075 shares during the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.
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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