Barclays Forecasts Strong Price Appreciation for Spotify Technology (NYSE:SPOT) Stock

Spotify Technology (NYSE:SPOT) had its price objective lifted by equities researchers at Barclays from $385.00 to $475.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential downside of 0.54% from the company’s current price.

A number of other analysts have also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Macquarie upped their price target on shares of Spotify Technology from $345.00 to $395.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Benchmark boosted their price target on Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research note on Monday. Guggenheim lifted their target price on Spotify Technology from $400.00 to $420.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $340.00 price target on shares of Spotify Technology in a research note on Monday, October 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $421.69.

Spotify Technology Stock Up 2.2 %

Shares of NYSE:SPOT opened at $477.59 on Wednesday. The company has a market capitalization of $95.06 billion, a price-to-earnings ratio of 129.78 and a beta of 1.56. Spotify Technology has a 52-week low of $170.62 and a 52-week high of $489.69. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.31. The company has a 50 day moving average of $372.46 and a two-hundred day moving average of $335.65.

Institutional Trading of Spotify Technology

Several institutional investors have recently added to or reduced their stakes in the stock. WCM Investment Management LLC increased its position in shares of Spotify Technology by 18.5% during the third quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock worth $1,430,142,000 after buying an additional 605,755 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Spotify Technology by 3.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,492,170 shares of the company’s stock worth $1,286,969,000 after acquiring an additional 102,786 shares during the period. GQG Partners LLC bought a new position in shares of Spotify Technology in the 1st quarter worth about $610,040,000. FMR LLC lifted its stake in shares of Spotify Technology by 23.4% in the 3rd quarter. FMR LLC now owns 1,567,818 shares of the company’s stock valued at $577,788,000 after purchasing an additional 297,035 shares during the period. Finally, Bamco Inc. NY boosted its position in shares of Spotify Technology by 28.3% during the 1st quarter. Bamco Inc. NY now owns 864,584 shares of the company’s stock valued at $228,164,000 after purchasing an additional 190,931 shares in 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.