Spotify Technology (NYSE:SPOT) Given New $565.00 Price Target at Pivotal Research

Spotify Technology (NYSE:SPOT) had its price target raised by Pivotal Research from $510.00 to $565.00 in a research note published on Wednesday, MarketBeat reports. Pivotal Research currently has a buy rating on the stock.

Other equities analysts also recently issued research reports about the company. Cantor Fitzgerald reissued a “neutral” rating and set a $340.00 price target on shares of Spotify Technology in a research report on Monday, October 7th. Guggenheim boosted 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. Phillip Securities reaffirmed an “accumulate” rating and set a $485.00 price target (up previously from $420.00) on shares of Spotify Technology in a report on Wednesday. JPMorgan Chase & Co. upped their price objective on shares of Spotify Technology from $375.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Wells Fargo & Company raised their target price on shares of Spotify Technology from $420.00 to $470.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $412.72.

Spotify Technology Stock Up 11.4 %

SPOT stock opened at $467.34 on Wednesday. Spotify Technology has a twelve month low of $170.62 and a twelve month high of $473.00. The company has a market cap of $93.03 billion, a price-to-earnings ratio of 126.99 and a beta of 1.56. 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 business has a 50 day moving average price of $369.70 and a two-hundred day moving average price of $334.73.

Institutional Investors Weigh In On Spotify Technology

Several hedge funds and other institutional investors have recently bought and sold shares of SPOT. WCM Investment Management LLC raised its stake in Spotify Technology by 18.5% during the 3rd 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 lifted its holdings 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 worth $1,286,969,000 after purchasing an additional 102,786 shares in the last quarter. GQG Partners LLC acquired a new stake in Spotify Technology in the 1st quarter valued at $610,040,000. FMR LLC increased its stake in Spotify Technology by 23.4% during 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 in the last quarter. Finally, Bamco Inc. NY raised its holdings in Spotify Technology by 28.3% during the first quarter. Bamco Inc. NY now owns 864,584 shares of the company’s stock worth $228,164,000 after buying an additional 190,931 shares during the last quarter. 84.09% of the stock is 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.