Wells Fargo & Co assumed coverage on shares of Spotify Technology (NYSE:SPOT) in a report issued on Tuesday, Stock Target Advisor reports. The firm issued an underperform rating and a $115.00 price objective on the stock.
SPOT has been the subject of a number of other research reports. Pivotal Research reduced their price objective on Spotify Technology from $155.00 to $150.00 and set a hold rating for the company in a report on Wednesday, July 31st. Consumer Edge assumed coverage on Spotify Technology in a report on Tuesday, August 20th. They set an equal weight rating for the company. SunTrust Banks boosted their price objective on Spotify Technology to $172.00 and gave the stock a buy rating in a report on Monday, August 5th. Royal Bank of Canada restated a buy rating and set a $185.00 price objective on shares of Spotify Technology in a report on Wednesday, July 31st. Finally, Morgan Stanley boosted their price objective on Spotify Technology from $170.00 to $180.00 and gave the stock an overweight rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $164.11.
Spotify Technology stock traded down $0.53 during midday trading on Tuesday, reaching $116.27. 371,164 shares of the company’s stock were exchanged, compared to its average volume of 1,194,190. Spotify Technology has a 52 week low of $103.29 and a 52 week high of $185.92. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.27. The company has a market cap of $21.83 billion, a price-to-earnings ratio of -193.78 and a beta of 1.91. The firm has a 50-day moving average price of $138.28.
About Spotify Technology
Spotify Technology SA, together with its subsidiaries, provides music streaming services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers commercial-free music services to subscribers comprising unlimited online and offline high-quality streaming access to its catalog.
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