Spotify Technology (NYSE:SPOT) Price Target Increased to $375.00 by Analysts at JPMorgan Chase & Co.

Spotify Technology (NYSE:SPOTGet Free Report) had its price objective boosted by JPMorgan Chase & Co. from $365.00 to $375.00 in a report released on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 17.74% from the stock’s current price.

Several other analysts have also weighed in on SPOT. The Goldman Sachs Group raised their price objective on Spotify Technology from $277.00 to $317.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. DZ Bank upgraded Spotify Technology from a “sell” rating to a “hold” rating and set a $240.00 price target on the stock in a report on Wednesday, February 7th. KeyCorp raised their price objective on shares of Spotify Technology from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Rosenblatt Securities reiterated a “buy” rating and set a $396.00 target price on shares of Spotify Technology in a research report on Tuesday. Finally, Citigroup upped their price target on shares of Spotify Technology from $255.00 to $310.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Eight research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $306.81.

View Our Latest Analysis on Spotify Technology

Spotify Technology Price Performance

NYSE:SPOT traded up $4.89 during trading hours on Tuesday, hitting $318.51. The company’s stock had a trading volume of 292,288 shares, compared to its average volume of 1,984,032. The stock has a fifty day simple moving average of $293.18 and a 200-day simple moving average of $244.35. The company has a market capitalization of $60.58 billion, a P/E ratio of -475.38 and a beta of 1.61. Spotify Technology has a twelve month low of $129.23 and a twelve month high of $320.00.

Spotify Technology (NYSE:SPOTGet Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.42. The business had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.87 billion. Spotify Technology had a negative return on equity of 4.39% and a negative net margin of 0.80%. During the same period last year, the firm posted ($1.24) earnings per share. On average, equities analysts predict that Spotify Technology will post 4.78 EPS for the current fiscal year.

Hedge Funds Weigh In On Spotify Technology

Institutional investors have recently made changes to their positions in the stock. Larson Financial Group LLC raised its position in shares of Spotify Technology by 86.0% during the first quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock worth $25,000 after purchasing an additional 43 shares during the period. Pinnacle Bancorp Inc. acquired a new position in Spotify Technology during the fourth quarter worth $29,000. GAMMA Investing LLC bought a new position in shares of Spotify Technology in the fourth quarter valued at $32,000. FinTrust Capital Advisors LLC grew its holdings in shares of Spotify Technology by 400.0% during the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the company’s stock valued at $33,000 after buying an additional 100 shares during the last quarter. Finally, Lindbrook Capital LLC increased its position in shares of Spotify Technology by 32.3% during the fourth quarter. Lindbrook Capital LLC now owns 205 shares of the company’s stock worth $39,000 after acquiring an additional 50 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

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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