Spotify (NYSE:SPOT) PT Raised to $200.00 at Loop Capital
Spotify (NYSE:SPOT) had its price objective increased by Loop Capital from $150.00 to $200.00 in a research note issued to investors on Thursday morning, The Fly reports. They currently have a hold rating on the stock.
SPOT has been the subject of several other research reports. SunTrust Banks raised their price objective on shares of Spotify from $167.00 to $290.00 and gave the stock a buy rating in a research note on Wednesday, July 15th. Morgan Stanley reissued a buy rating and set a $275.00 price objective on shares of Spotify in a report on Tuesday, July 28th. Zacks Investment Research downgraded shares of Spotify from a buy rating to a hold rating in a research note on Thursday, July 16th. UBS Group downgraded shares of Spotify from a buy rating to a sell rating and raised their target price for the company from $189.00 to $204.00 in a research note on Tuesday, July 14th. Finally, Royal Bank of Canada restated a buy rating and issued a $320.00 target price on shares of Spotify in a research note on Friday, July 10th. Six equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $228.74.
Shares of SPOT opened at $257.82 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.92 and a debt-to-equity ratio of 0.29. Spotify has a 1-year low of $109.18 and a 1-year high of $299.67. The firm has a fifty day simple moving average of $251.68 and a two-hundred day simple moving average of $173.63.
A number of hedge funds and other institutional investors have recently bought and sold shares of SPOT. Ameritas Investment Company LLC acquired a new position in Spotify during the first quarter valued at $42,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Spotify during the first quarter valued at $45,000. Aigen Investment Management LP acquired a new position in Spotify during the first quarter valued at $51,000. Eudaimonia Partners LLC acquired a new position in Spotify during the first quarter valued at $55,000. Finally, Verus Capital Partners LLC acquired a new position in Spotify during the fourth quarter valued at $59,000. Institutional investors own 54.77% of the company’s stock.
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.
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