Spotify Technology (NYSE:SPOT) Receives Average Rating of “Moderate Buy” from Brokerages

Spotify Technology (NYSE:SPOT) has received a consensus recommendation of “Moderate Buy” from the thirty-three brokerages that are currently covering the company, MarketBeat.com reports. Eleven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $731.1563.

Several research firms have weighed in on SPOT. The Goldman Sachs Group cut Spotify Technology from a “buy” rating to a “neutral” rating and upped their target price for the stock from $765.00 to $770.00 in a research note on Tuesday. Evercore ISI increased their price objective on shares of Spotify Technology from $650.00 to $750.00 and gave the stock an “outperform” rating in a research report on Monday, June 16th. BNP Paribas raised shares of Spotify Technology to a “strong-buy” rating in a research report on Tuesday, September 16th. Bank of America lifted their target price on shares of Spotify Technology from $700.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, June 26th. Finally, Cantor Fitzgerald lifted their price target on shares of Spotify Technology from $610.00 to $640.00 and gave the stock a “neutral” rating in a report on Wednesday, June 18th.

Spotify Technology Price Performance

Shares of Spotify Technology stock opened at $702.00 on Friday. The stock’s 50-day moving average is $695.53 and its 200-day moving average is $662.76. The firm has a market cap of $143.71 billion, a price-to-earnings ratio of 170.39, a price-to-earnings-growth ratio of 3.00 and a beta of 1.67. Spotify Technology has a one year low of $362.31 and a one year high of $785.00.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings results on Tuesday, July 29th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of $2.00 by ($2.42). Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%.The business had revenue of $4.94 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same period last year, the firm earned $1.33 EPS. Spotify Technology’s quarterly revenue was up 10.1% compared to the same quarter last year. Spotify Technology has set its Q3 2025 guidance at EPS. On average, equities analysts expect that Spotify Technology will post 10.3 EPS for the current year.

Institutional Trading of Spotify Technology

A number of hedge funds have recently made changes to their positions in the stock. Sapient Capital LLC bought a new position in shares of Spotify Technology during the second quarter valued at about $322,000. Legacy Capital Group California Inc. lifted its position in Spotify Technology by 110.9% during the second quarter. Legacy Capital Group California Inc. now owns 3,896 shares of the company’s stock valued at $2,990,000 after purchasing an additional 2,049 shares during the period. Swedbank AB lifted its position in Spotify Technology by 1.4% during the first quarter. Swedbank AB now owns 959,587 shares of the company’s stock valued at $527,802,000 after purchasing an additional 13,458 shares during the period. Harbor Investment Advisory LLC raised its position in Spotify Technology by 36.0% in the second quarter. Harbor Investment Advisory LLC now owns 2,054 shares of the company’s stock worth $1,576,000 after acquiring an additional 544 shares during the period. Finally, Integrated Wealth Concepts LLC raised its position in Spotify Technology by 39.8% in the first quarter. Integrated Wealth Concepts LLC now owns 2,702 shares of the company’s stock worth $1,486,000 after acquiring an additional 769 shares during the period. 84.09% of the stock is owned by institutional investors.

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.