Spotify Technology (NYSE:SPOT) Stock Price Expected to Rise, KeyCorp Analyst Says

Spotify Technology (NYSE:SPOT) had its target price increased by KeyCorp from $490.00 to $520.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

SPOT has been the subject of several other reports. TD Cowen upped their target price on Spotify Technology from $273.00 to $356.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Macquarie upped their price objective on shares of Spotify Technology from $345.00 to $395.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Morgan Stanley boosted their price target on shares of Spotify Technology from $430.00 to $460.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, DZ Bank upgraded shares of Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 price objective on the stock in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Spotify Technology currently has an average rating of “Moderate Buy” and an average price target of $412.72.

Spotify Technology Price Performance

Shares of NYSE SPOT opened at $467.34 on Wednesday. The stock has a market cap of $93.03 billion, a P/E ratio of 126.99 and a beta of 1.56. Spotify Technology has a fifty-two week low of $170.62 and a fifty-two week high of $473.00. 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 firm’s 50-day simple moving average is $369.70 and its 200 day simple moving average is $334.73.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. WCM Investment Management LLC raised its holdings in Spotify Technology by 18.5% in the third quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock worth $1,430,142,000 after purchasing an additional 605,755 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Spotify Technology by 3.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,492,170 shares of the company’s stock valued at $1,286,969,000 after buying an additional 102,786 shares in the last quarter. GQG Partners LLC acquired a new stake in Spotify Technology during the 1st quarter worth $610,040,000. FMR LLC grew its stake in Spotify Technology by 23.4% in the third quarter. FMR LLC now owns 1,567,818 shares of the company’s stock valued at $577,788,000 after acquiring an additional 297,035 shares during the period. Finally, Bamco Inc. NY increased its holdings in shares of Spotify Technology by 28.3% in the first quarter. Bamco Inc. NY now owns 864,584 shares of the company’s stock worth $228,164,000 after acquiring an additional 190,931 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

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.