Shares of Spotify Technology S.A. (NYSE:SPOT – Get Free Report) have earned an average rating of “Moderate Buy” from the twenty-eight analysts that are presently covering the stock, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $540.68.
A number of research analysts have weighed in on SPOT shares. Barclays increased their target price on Spotify Technology from $475.00 to $710.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Redburn Atlantic began coverage on Spotify Technology in a research report on Tuesday, March 11th. They issued a “neutral” rating and a $545.00 price target for the company. Canaccord Genuity Group upped their price target on Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. Cantor Fitzgerald restated a “neutral” rating and issued a $480.00 price target (down previously from $490.00) on shares of Spotify Technology in a research report on Tuesday, January 28th. Finally, Citigroup upped their price target on Spotify Technology from $540.00 to $720.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th.
View Our Latest Stock Report on SPOT
Institutional Investors Weigh In On Spotify Technology
Spotify Technology Stock Performance
SPOT stock opened at $576.02 on Tuesday. Spotify Technology has a fifty-two week low of $249.58 and a fifty-two week high of $652.63. The business’s 50-day moving average is $555.35 and its two-hundred day moving average is $460.27. The company has a market cap of $117.92 billion, a price-to-earnings ratio of 96.81 and a beta of 1.66.
About Spotify Technology
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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