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

Spotify Technology (NYSE:SPOTGet Free Report) had its price objective increased by investment analysts at Piper Sandler from $330.00 to $450.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price target points to a potential downside of 3.17% from the company’s previous close.

Several other research analysts also recently weighed in on the stock. Evercore ISI lifted their target price on shares of Spotify Technology from $420.00 to $460.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Pivotal Research boosted their price objective on shares of Spotify Technology from $510.00 to $565.00 and gave the company a “buy” rating in a research report on Wednesday. The Goldman Sachs Group raised shares of Spotify Technology from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $320.00 to $425.00 in a research report on Wednesday, July 24th. Barclays boosted their price objective on shares of Spotify Technology from $385.00 to $475.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $402.38.

Read Our Latest Report on Spotify Technology

Spotify Technology Price Performance

Shares of SPOT traded up $45.34 during mid-day trading on Wednesday, hitting $464.73. The company’s stock had a trading volume of 8,172,159 shares, compared to its average volume of 1,899,382. The firm has a 50-day moving average price of $369.70 and a 200 day moving average price of $334.73. The stock has a market capitalization of $92.50 billion, a price-to-earnings ratio of 127.96 and a beta of 1.56. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.56 and a quick ratio of 1.56. Spotify Technology has a fifty-two week low of $170.62 and a fifty-two week high of $472.00.

Institutional Trading of Spotify Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Transcendent Capital Group LLC acquired a new position in shares of Spotify Technology during the 2nd quarter worth about $25,000. Benjamin Edwards Inc. grew its position in shares of Spotify Technology by 214.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock worth $27,000 after buying an additional 58 shares during the period. Mather Group LLC. grew its position in shares of Spotify Technology by 9,900.0% in the 2nd quarter. Mather Group LLC. now owns 100 shares of the company’s stock valued at $31,000 after purchasing an additional 99 shares during the period. Asset Dedication LLC acquired a new position in shares of Spotify Technology in the 2nd quarter valued at approximately $35,000. Finally, Larson Financial Group LLC grew its position in shares of Spotify Technology by 51.6% in the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after purchasing an additional 33 shares during the period. 84.09% of the stock is owned by institutional investors.

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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