Spotify Technology (NYSE:SPOT) Given New $440.00 Price Target at Deutsche Bank Aktiengesellschaft

Spotify Technology (NYSE:SPOT) had its price objective lifted by Deutsche Bank Aktiengesellschaft from $430.00 to $440.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also issued reports on the stock. Evercore ISI upped their target price on shares of Spotify Technology from $420.00 to $460.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. DZ Bank upgraded Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 price objective on the stock in a research note on Wednesday, July 24th. Barclays increased their target price on Spotify Technology from $350.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Macquarie increased their price target on shares of Spotify Technology from $345.00 to $395.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Finally, Redburn Atlantic reissued a “sell” rating and set a $230.00 price objective on shares of Spotify Technology in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $379.79.

Spotify Technology Stock Performance

SPOT opened at $400.68 on Wednesday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.31. Spotify Technology has a 1-year low of $167.64 and a 1-year high of $405.93. The company has a market cap of $79.76 billion, a price-to-earnings ratio of 163.54 and a beta of 1.56. The company’s fifty day moving average price is $366.54 and its two-hundred day moving average price is $332.40.

Institutional Investors Weigh In On Spotify Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Landscape Capital Management L.L.C. bought a new position in Spotify Technology during the 3rd quarter valued at approximately $2,408,000. Intech Investment Management LLC lifted its holdings in shares of Spotify Technology by 57.0% during the third quarter. Intech Investment Management LLC now owns 1,699 shares of the company’s stock valued at $626,000 after purchasing an additional 617 shares during the last quarter. Moran Wealth Management LLC bought a new stake in Spotify Technology in the third quarter worth $13,238,000. Glaxis Capital Management LLC purchased a new stake in Spotify Technology during the 3rd quarter valued at about $1,106,000. Finally, First Horizon Advisors Inc. grew its holdings in shares of Spotify Technology by 5.8% during the third quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock valued at $176,000 after buying an additional 26 shares during the last quarter. 84.09% of the stock is currently 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.