Spotify Technology (NYSE:SPOT) Price Target Raised to $500.00 at Macquarie

Spotify Technology (NYSE:SPOT) had its price target increased by Macquarie from $395.00 to $500.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Benchmark lifted their price objective on Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a report on Monday, November 11th. JPMorgan Chase & Co. upped their price target on Spotify Technology from $425.00 to $530.00 and gave the company an “overweight” rating in a research report on Wednesday. Cantor Fitzgerald reissued a “neutral” rating and set a $340.00 price objective on shares of Spotify Technology in a report on Monday, October 7th. Barclays boosted their target price on shares of Spotify Technology from $385.00 to $475.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Guggenheim increased their target price on shares of Spotify Technology from $400.00 to $420.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. One equities 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $421.69.

Spotify Technology Price Performance

Shares of Spotify Technology stock opened at $458.49 on Wednesday. The firm has a market cap of $91.26 billion, a P/E ratio of 124.59 and a beta of 1.56. The firm’s 50-day simple moving average is $378.15 and its 200-day simple moving average is $337.83. Spotify Technology has a twelve month low of $170.62 and a twelve month high of $489.69. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.56 and a current ratio of 1.56.

Institutional Trading of Spotify Technology

Institutional investors have recently bought and sold shares of the business. Aigen Investment Management LP grew its position in shares of Spotify Technology by 42.4% during the 3rd quarter. Aigen Investment Management LP now owns 9,800 shares of the company’s stock worth $3,612,000 after buying an additional 2,918 shares during the period. Pathway Capital Management LP raised its position in shares of Spotify Technology by 23.8% during the third quarter. Pathway Capital Management LP now owns 57,340 shares of the company’s stock worth $21,132,000 after purchasing an additional 11,042 shares during the period. Perpetual Ltd increased its stake in Spotify Technology by 24.3% during the 3rd quarter. Perpetual Ltd now owns 759,681 shares of the company’s stock worth $279,965,000 after purchasing an additional 148,431 shares in the last quarter. Jag Capital Management LLC acquired a new stake in Spotify Technology during the 3rd quarter worth approximately $13,569,000. Finally, Northeast Investment Management raised its holdings in shares of Spotify Technology by 67.6% during the third quarter. Northeast Investment Management now owns 12,991 shares of the company’s stock worth $4,788,000 after acquiring an additional 5,240 shares during the period. 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.