Spotify Technology (NYSE:SPOT) had its target price hoisted by equities researchers at SunTrust Banks to $172.00 in a research report issued on Monday, Stock Target Advisor reports. The brokerage currently has a “buy” rating on the stock. SunTrust Banks’ target price would suggest a potential upside of 13.58% from the company’s current price.
Several other analysts have also recently issued reports on the stock. UBS Group cut shares of Spotify Technology from a “buy” rating to a “hold” rating and decreased their target price for the company from $155.00 to $150.00 in a research report on Wednesday, July 31st. Raymond James upped their target price on shares of Spotify Technology from $172.00 to $180.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 25th. Goldman Sachs Group restated a “buy” rating and set a $170.00 target price on shares of Spotify Technology in a research report on Tuesday, April 30th. Evercore ISI cut shares of Spotify Technology from an “in-line” rating to an “underperform” rating in a research report on Monday, June 24th. Finally, Pivotal Research decreased their target price on shares of Spotify Technology from $155.00 to $150.00 and set a “hold” rating on the stock in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $170.25.
Shares of NYSE SPOT opened at $151.44 on Monday. The firm’s 50-day simple moving average is $149.13. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market cap of $27.76 billion, a PE ratio of -252.40 and a beta of 1.85. Spotify Technology has a 12-month low of $103.29 and a 12-month high of $196.95.
Spotify Technology Company Profile
Spotify Technology SA, together with its subsidiaries, provides music streaming services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers commercial-free music services to subscribers comprising unlimited online and offline high-quality streaming access to its catalog.
Further Reading: Ex-Dividend
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