JPMorgan Chase & Co. Issues Positive Forecast for Spotify Technology (NYSE:SPOT) Stock Price

Spotify Technology (NYSE:SPOT) had its price objective increased by JPMorgan Chase & Co. from $425.00 to $530.00 in a research note released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts have also issued reports about the stock. Wells Fargo & Company boosted their price objective on shares of Spotify Technology from $420.00 to $470.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. DZ Bank upgraded shares of Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 price target on the stock in a research report on Wednesday, July 24th. Evercore ISI raised their price objective on shares of Spotify Technology from $420.00 to $460.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Morgan Stanley upped their target price on Spotify Technology from $430.00 to $460.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, TD Cowen raised their price target on Spotify Technology from $273.00 to $356.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. One investment 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $421.69.

Spotify Technology Stock Performance

Shares of SPOT stock opened at $458.49 on Wednesday. The stock has a fifty day moving average price of $378.15 and a 200 day moving average price of $337.83. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.56 and a current ratio of 1.56. The stock has a market cap of $91.26 billion, a PE ratio of 124.59 and a beta of 1.56. Spotify Technology has a 1 year low of $170.62 and a 1 year high of $489.69.

Institutional Investors Weigh In On Spotify Technology

A number of large investors have recently modified their holdings of the stock. Prestige Wealth Management Group LLC acquired a new position in Spotify Technology during the 3rd quarter worth approximately $26,000. Transcendent Capital Group LLC purchased a new stake in shares of Spotify Technology during the second quarter valued at approximately $25,000. Benjamin Edwards Inc. lifted its position in shares of Spotify Technology by 214.8% during the second quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of Spotify Technology by 51.6% in the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after purchasing an additional 33 shares during the period. Finally, Mather Group LLC. boosted its stake in shares of Spotify Technology by 9,900.0% in the second quarter. Mather Group LLC. now owns 100 shares of the company’s stock valued at $31,000 after purchasing an additional 99 shares during the period. Institutional investors and hedge funds 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.