Spotify Technology (NYSE:SPOT) Price Target Raised to $565.00 at Pivotal Research

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

Other research analysts have also recently issued reports about the stock. TD Cowen boosted their price target on shares of Spotify Technology from $273.00 to $356.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Macquarie lifted their price target on Spotify Technology from $345.00 to $395.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Benchmark boosted their price target on shares of Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a report on Monday. Morgan Stanley raised their price objective on shares of Spotify Technology from $430.00 to $460.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Wells Fargo & Company increased their target price on shares of Spotify Technology from $420.00 to $470.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $412.72.

Spotify Technology Trading Up 11.4 %

NYSE SPOT opened at $467.34 on Wednesday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $369.70 and a 200 day simple moving average of $334.73. Spotify Technology has a 12 month low of $170.62 and a 12 month high of $473.00. The firm has a market capitalization of $93.03 billion, a P/E ratio of 126.99 and a beta of 1.56.

Institutional Investors Weigh In On Spotify Technology

A number of large investors have recently made changes to their positions in SPOT. First Horizon Advisors Inc. lifted its stake in Spotify Technology by 5.8% in the third quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock worth $176,000 after acquiring an additional 26 shares during the period. West Bancorporation Inc. raised its holdings in Spotify Technology by 3.4% in the 3rd quarter. West Bancorporation Inc. now owns 827 shares of the company’s stock worth $305,000 after purchasing an additional 27 shares in the last quarter. Avior Wealth Management LLC lifted its position in shares of Spotify Technology by 12.0% in the 3rd quarter. Avior Wealth Management LLC now owns 281 shares of the company’s stock worth $104,000 after purchasing an additional 30 shares during the period. Washington Trust Advisors Inc. boosted its stake in shares of Spotify Technology by 12.0% during the 3rd quarter. Washington Trust Advisors Inc. now owns 299 shares of the company’s stock valued at $110,000 after purchasing an additional 32 shares in the last quarter. Finally, Rakuten Securities Inc. increased its position in shares of Spotify Technology by 40.5% during the third quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock valued at $41,000 after buying an additional 32 shares during the period. 84.09% of the stock is currently 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.