Spotify Technology (NYSE:SPOT) Price Target Raised to $475.00 at Barclays

Spotify Technology (NYSE:SPOT) had its target price raised by Barclays from $385.00 to $475.00 in a research report report published on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Other equities analysts also recently issued reports about the company. Rosenblatt Securities increased their target price on Spotify Technology from $399.00 to $438.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Wells Fargo & Company raised their price objective on shares of Spotify Technology from $420.00 to $470.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Cantor Fitzgerald reissued a “neutral” rating and set a $340.00 target price on shares of Spotify Technology in a report on Monday, October 7th. Morgan Stanley lifted their price target on shares of Spotify Technology from $430.00 to $460.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, 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 report on Tuesday, July 23rd. 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $412.72.

Spotify Technology Price Performance

Shares of SPOT stock opened at $467.34 on Wednesday. The business has a fifty day simple moving average of $369.70 and a 200 day simple moving average of $334.73. The company has a market cap of $93.03 billion, a P/E 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. Spotify Technology has a twelve month low of $170.62 and a twelve month high of $473.00.

Institutional Trading of Spotify Technology

A number of institutional investors have recently added to or reduced their stakes in SPOT. GQG Partners LLC bought a new stake in Spotify Technology during the 1st quarter worth approximately $610,040,000. Swedbank AB purchased a new stake in shares of Spotify Technology in the first quarter worth $198,663,000. WCM Investment Management LLC boosted its stake in Spotify Technology by 18.5% during the third quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock valued at $1,430,142,000 after buying an additional 605,755 shares during the period. International Assets Investment Management LLC boosted its stake in Spotify Technology by 36,910.0% during the third quarter. International Assets Investment Management LLC now owns 347,524 shares of the company’s stock valued at $128,073,000 after buying an additional 346,585 shares during the period. Finally, Sei Investments Co. increased its stake in Spotify Technology by 106.8% in the 2nd quarter. Sei Investments Co. now owns 646,380 shares of the company’s stock worth $202,828,000 after acquiring an additional 333,782 shares during the last quarter. Hedge funds and other institutional investors 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.