Spotify Technology S.A. (NYSE:SPOT - Get Free Report) was up 4.5% on Tuesday . The company traded as high as $573.75 and last traded at $573.64. Approximately 999,595 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 2,177,078 shares. The stock had previously closed at $549.17.
Wall Street Analyst Weigh In
A number of research analysts have commented on the stock. Redburn Atlantic began coverage on shares of Spotify Technology in a research note on Tuesday, March 11th. They set a "neutral" rating and a $545.00 price target for the company. Cantor Fitzgerald lowered their price target on Spotify Technology from $600.00 to $520.00 and set a "neutral" rating on the stock in a research report on Wednesday. Benchmark lifted their price objective on Spotify Technology from $600.00 to $720.00 and gave the company a "buy" rating in a report on Wednesday, February 5th. Wolfe Research reaffirmed a "peer perform" rating on shares of Spotify Technology in a report on Friday, January 17th. Finally, Guggenheim restated a "buy" rating and issued a $675.00 price target on shares of Spotify Technology in a research report on Monday, February 24th. Nine equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, Spotify Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $564.45.
Check Out Our Latest Report on SPOT
Spotify Technology Stock Performance
The firm has a market capitalization of $117.68 billion, a price-to-earnings ratio of 96.61 and a beta of 1.75. The company has a 50-day moving average of $575.74 and a 200-day moving average of $499.73.
Institutional Investors Weigh In On Spotify Technology
Several institutional investors have recently added to or reduced their stakes in the stock. Mpwm Advisory Solutions LLC acquired a new position in shares of Spotify Technology during the fourth quarter worth about $26,000. Hillsdale Investment Management Inc. acquired a new position in Spotify Technology during the 4th quarter worth approximately $27,000. Copia Wealth Management acquired a new stake in shares of Spotify Technology in the fourth quarter valued at approximately $29,000. North Star Investment Management Corp. lifted its position in shares of Spotify Technology by 52.8% in the first quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock worth $30,000 after purchasing an additional 19 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in Spotify Technology by 209.1% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 68 shares of the company's stock valued at $37,000 after purchasing an additional 46 shares in the last quarter. 84.09% of the stock is owned by institutional investors.
About Spotify Technology
(
Get Free Report)
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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