Robert W. Baird Boosts Spotify Technology (NYSE:SPOT) Price Target to $730.00

Spotify Technology (NYSE:SPOT) had its price target boosted by Robert W. Baird from $700.00 to $730.00 in a research report report published on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages also recently issued reports on SPOT. KeyCorp reduced their price objective on Spotify Technology from $675.00 to $625.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. Canaccord Genuity Group increased their price target on Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. upped their target price on Spotify Technology from $640.00 to $670.00 and gave the company an “overweight” rating in a research note on Wednesday. FBN Securities started coverage on Spotify Technology in a research note on Friday, March 28th. They issued a “sector perform” rating and a $645.00 price target on the stock. Finally, Wells Fargo & Company increased their price objective on shares of Spotify Technology from $690.00 to $740.00 and gave the stock an “overweight” rating in a report on Friday, March 28th. Seven investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, Spotify Technology currently has a consensus rating of “Moderate Buy” and an average price target of $606.71.

Spotify Technology Trading Down 2.0 %

Shares of NYSE SPOT opened at $601.80 on Thursday. The company’s 50-day moving average price is $569.30 and its 200 day moving average price is $512.73. The stock has a market cap of $123.19 billion, a price-to-earnings ratio of 101.14 and a beta of 1.75. Spotify Technology has a 52 week low of $283.39 and a 52 week high of $652.63.

Hedge Funds Weigh In On Spotify Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SPOT. Mpwm Advisory Solutions LLC bought a new stake in Spotify Technology during the 4th quarter valued at $26,000. Hillsdale Investment Management Inc. acquired a new position in shares of Spotify Technology during the fourth quarter valued at $27,000. Tsfg LLC bought a new stake in shares of Spotify Technology during the first quarter valued at about $28,000. Copia Wealth Management acquired a new stake in Spotify Technology in the fourth quarter worth about $29,000. Finally, Cornerstone Planning Group LLC grew its position in Spotify Technology by 512.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 49 shares of the company’s stock valued at $29,000 after buying an additional 41 shares in the last quarter. 84.09% of the stock is owned by 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.