Analysts Set Spotify Technology S.A. (NYSE:SPOT) Price Target at $529.43

Spotify Technology S.A. (NYSE:SPOTGet Free Report) has received a consensus recommendation of “Moderate Buy” from the twenty-eight research firms that are currently covering the stock, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $540.68.

Several analysts recently weighed in on the stock. KeyCorp boosted their price objective on shares of Spotify Technology from $555.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. UBS Group upped their price target on shares of Spotify Technology from $485.00 to $540.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. JPMorgan Chase & Co. upped their price target on shares of Spotify Technology from $555.00 to $730.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Wells Fargo & Company upped their price target on shares of Spotify Technology from $520.00 to $690.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $480.00 price target (down previously from $490.00) on shares of Spotify Technology in a research report on Tuesday, January 28th.

View Our Latest Report on SPOT

Institutional Investors Weigh In On Spotify Technology

A number of institutional investors have recently added to or reduced their stakes in SPOT. Prestige Wealth Management Group LLC bought a new stake in Spotify Technology in the 3rd quarter worth about $26,000. Mpwm Advisory Solutions LLC bought a new stake in Spotify Technology in the 4th quarter worth about $26,000. Hillsdale Investment Management Inc. bought a new stake in Spotify Technology in the 4th quarter worth about $27,000. Copia Wealth Management bought a new stake in Spotify Technology in the 4th quarter worth about $29,000. Finally, Hobbs Group Advisors LLC bought a new stake in Spotify Technology in the 3rd quarter worth about $33,000. 84.09% of the stock is owned by institutional investors.

Spotify Technology Stock Up 4.0 %

Shares of Spotify Technology stock opened at $597.78 on Tuesday. Spotify Technology has a twelve month low of $249.58 and a twelve month high of $652.63. The stock has a market cap of $122.37 billion, a price-to-earnings ratio of 100.47 and a beta of 1.66. The company’s fifty day moving average is $557.92 and its 200 day moving average is $462.95.

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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Analyst Recommendations for Spotify Technology (NYSE:SPOT)

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