This Is What Whales Are Betting On Spotify Technology
Portfolio Pulse from Benzinga Insights
A whale investor has taken a bearish stance on Spotify Technology (NYSE:SPOT), with 69% of detected trades having bearish expectations. Whales have been targeting a price range of $95 to $200 for Spotify over the last 3 months. Guggenheim maintains a Buy rating with a price target of $180, while Baird maintains an Outperform rating with a price target of $175.
June 05, 2023 | 7:02 pm
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NEUTRAL IMPACT
Whale investor takes a bearish stance on Spotify, with majority of detected trades being bearish. Guggenheim and Baird maintain positive ratings with price targets of $180 and $175.
The bearish stance taken by the whale investor may create some downward pressure on Spotify's stock price in the short term. However, the positive ratings and price targets from Guggenheim and Baird suggest that the overall outlook for the stock remains positive. The mixed signals from these factors result in a neutral short-term impact on Spotify's stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100