Piper Sandler Issues Positive Forecast for Spotify Technology (NYSE:SPOT) Stock Price

Spotify Technology (NYSE:SPOT) had its price target upped by Piper Sandler from $330.00 to $450.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

A number of other equities analysts have also recently weighed in on SPOT. Rosenblatt Securities upped 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. Barclays upped their target price on shares of Spotify Technology from $385.00 to $475.00 and gave the stock an “overweight” rating in a research report on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of Spotify Technology from $425.00 to $530.00 and gave the company an “overweight” rating in a research report on Wednesday. The Goldman Sachs Group upgraded Spotify Technology from a “neutral” rating to a “buy” rating and upped their price target for the stock from $320.00 to $425.00 in a report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $412.72.

Spotify Technology Trading Up 11.4 %

NYSE SPOT opened at $467.34 on Wednesday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $93.03 billion, a P/E ratio of 126.99 and a beta of 1.56. Spotify Technology has a 52-week low of $170.62 and a 52-week high of $473.00. The firm has a 50-day moving average price of $369.70 and a 200 day moving average price of $334.73.

Institutional Trading of Spotify Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. First Horizon Advisors Inc. increased its position in shares of Spotify Technology by 5.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock worth $176,000 after purchasing an additional 26 shares during the last quarter. West Bancorporation Inc. grew its stake in Spotify Technology by 3.4% in the third quarter. West Bancorporation Inc. now owns 827 shares of the company’s stock worth $305,000 after purchasing an additional 27 shares in the last quarter. Avior Wealth Management LLC increased its holdings in Spotify Technology by 12.0% in the third quarter. Avior Wealth Management LLC now owns 281 shares of the company’s stock valued at $104,000 after buying an additional 30 shares during the last quarter. Washington Trust Advisors Inc. raised its stake in Spotify Technology by 12.0% during the third quarter. Washington Trust Advisors Inc. now owns 299 shares of the company’s stock valued at $110,000 after buying an additional 32 shares in the last quarter. Finally, Rakuten Securities Inc. lifted its holdings in Spotify Technology by 40.5% during the 3rd quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock worth $41,000 after buying an additional 32 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

About Spotify Technology

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.