Spotify Technology (NYSE:SPOT) Price Target Raised to $440.00 at Deutsche Bank Aktiengesellschaft

Spotify Technology (NYSE:SPOT) had its target price raised by Deutsche Bank Aktiengesellschaft from $430.00 to $440.00 in a report published on Wednesday morning,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

Several other analysts have also recently weighed in on the stock. Macquarie raised their price objective on shares of Spotify Technology from $345.00 to $395.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. UBS Group raised their price objective on shares of Spotify Technology from $375.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. The Goldman Sachs Group upgraded shares of Spotify Technology from a “neutral” rating to a “buy” rating and raised their price objective for the company from $320.00 to $425.00 in a research report on Wednesday, July 24th. Jefferies Financial Group restated a “buy” rating and set a $385.00 price objective (up previously from $242.00) on shares of Spotify Technology in a research report on Thursday, July 11th. Finally, Barclays raised their price objective on shares of Spotify Technology from $350.00 to $360.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat, Spotify Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $379.79.

Spotify Technology Price Performance

NYSE:SPOT traded up $8.79 during trading hours on Wednesday, hitting $399.95. The stock had a trading volume of 972,686 shares, compared to its average volume of 1,833,544. The company has a 50 day simple moving average of $364.19 and a two-hundred day simple moving average of $331.03. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.56 and a quick ratio of 1.56. Spotify Technology has a one year low of $164.83 and a one year high of $402.99. The firm has a market capitalization of $79.61 billion, a price-to-earnings ratio of 159.64 and a beta of 1.56.

Institutional Investors Weigh In On Spotify Technology

Several hedge funds have recently bought and sold shares of the business. Alpha Family Trust bought a new stake in Spotify Technology during the third quarter worth about $219,000. Natixis Advisors LLC raised its holdings in Spotify Technology by 11.7% in the third quarter. Natixis Advisors LLC now owns 94,246 shares of the company’s stock worth $34,732,000 after buying an additional 9,892 shares during the last quarter. Empowered Funds LLC raised its holdings in Spotify Technology by 4.4% in the third quarter. Empowered Funds LLC now owns 18,041 shares of the company’s stock worth $6,649,000 after buying an additional 754 shares during the last quarter. Connable Office Inc. raised its holdings in Spotify Technology by 14.8% in the third quarter. Connable Office Inc. now owns 3,600 shares of the company’s stock worth $1,327,000 after buying an additional 465 shares during the last quarter. Finally, OneDigital Investment Advisors LLC raised its holdings in Spotify Technology by 38.9% in the third quarter. OneDigital Investment Advisors LLC now owns 1,074 shares of the company’s stock worth $396,000 after buying an additional 301 shares during the last quarter. 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.