Spotify Technology (NYSE:SPOT) Price Target Raised to $317.00 at The Goldman Sachs Group

Spotify Technology (NYSE:SPOT) had its price target upped by investment analysts at The Goldman Sachs Group from $277.00 to $317.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 9.61% from the stock’s previous close.

A number of other analysts also recently issued reports on SPOT. Benchmark raised their price target on Spotify Technology from $325.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday. Pivotal Research lifted their price target on shares of Spotify Technology from $390.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday. Rosenblatt Securities increased their price objective on shares of Spotify Technology from $315.00 to $396.00 and gave the stock a “buy” rating in a research report on Wednesday. Raymond James boosted their target price on Spotify Technology from $260.00 to $320.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Finally, KeyCorp increased their price target on Spotify Technology from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Eight investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $301.81.

Spotify Technology Stock Performance

Spotify Technology stock opened at $289.20 on Wednesday. Spotify Technology has a twelve month low of $128.67 and a twelve month high of $319.30. The company’s 50-day moving average price is $270.61 and its 200-day moving average price is $217.74.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.42. The company had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.87 billion. Spotify Technology had a negative return on equity of 4.39% and a negative net margin of 0.80%. During the same period in the previous year, the firm posted ($1.24) earnings per share. As a group, equities analysts forecast that Spotify Technology will post 3.97 EPS for the current year.

Institutional Trading of Spotify Technology

Hedge funds have recently bought and sold shares of the stock. Lindbrook Capital LLC raised its position in shares of Spotify Technology by 32.3% in the 4th quarter. Lindbrook Capital LLC now owns 205 shares of the company’s stock worth $39,000 after acquiring an additional 50 shares in the last quarter. Signaturefd LLC raised its holdings in Spotify Technology by 4.4% in the fourth quarter. Signaturefd LLC now owns 1,222 shares of the company’s stock worth $230,000 after purchasing an additional 51 shares in the last quarter. Summit Trail Advisors LLC lifted its position in shares of Spotify Technology by 3.5% during the fourth quarter. Summit Trail Advisors LLC now owns 1,664 shares of the company’s stock valued at $313,000 after buying an additional 56 shares during the last quarter. Private Trust Co. NA boosted its holdings in shares of Spotify Technology by 18.4% in the 4th quarter. Private Trust Co. NA now owns 367 shares of the company’s stock valued at $69,000 after buying an additional 57 shares in the last quarter. Finally, Delta Asset Management LLC TN grew its position in shares of Spotify Technology by 6.7% in the 4th quarter. Delta Asset Management LLC TN now owns 960 shares of the company’s stock worth $180,000 after buying an additional 60 shares during the last quarter. Hedge funds and other 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.