Spotify Surpasses Analysts’ Average Price Target: What Comes Next?
In the latest trading session, Spotify Technology SA (Symbol: SPOT) shares have gone beyond the analysts’ average 12-month target price of $475.68, trading at $479.73 per share. When a stock reaches an analyst’s target, that analyst typically has to make a decision: either decrease the target due to valuation concerns or raise it in response to positive company developments. Evaluating these business trends can help determine if a price reevaluation is warranted.
Analyst Targets: A Mixed Bag of Predictions
Within Zacks’ coverage, 28 analysts contribute to Spotify’s average target price. However, these targets vary widely. One analyst has set a price target as low as $245.00, while another predicts a high of $565.00. The standard deviation among these predictions is $68.21, indicating a notable range of opinions.
Investors Should Evaluate Their Next Move
The purpose of examining the average SPOT price target is to harness collective insight from a variety of analysts rather than relying on a single expert’s opinion. With SPOT now above the $475.68 target, this is an opportune moment for investors to reflect on the stock’s potential. They might wonder if this is just a temporary milestone on the path to even higher valuations or if it’s time to consider taking profits before a possible downturn.
| Recent SPOT Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Month Ago | 3 Month Ago |
| Strong buy ratings: | 19 | 19 | 19 | 19 |
| Buy ratings: | 2 | 2 | 2 | 2 |
| Hold ratings: | 7 | 7 | 7 | 7 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 1 | 1 | 1 | 1 |
| Average rating: | 1.67 | 1.67 | 1.67 | 1.67 |
The average rating in the table above ranges from 1 to 5, where 1 represents a Strong Buy and 5 indicates a Strong Sell. This analysis includes data from Zacks Investment Research via Quandl.com.
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Also see:
• Cheap Tech Stocks
• Institutional Holders of AGQ
• ETFs Holding NSSC
The views expressed in this article reflect those of the author and do not necessarily represent the views of Nasdaq, Inc.
