Spotify Technology (NYSE:SPOT – Get Free Report) had its price target hoisted by research analysts at JPMorgan Chase & Co. from $650.00 to $700.00 in a report released on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 20.57% from the stock’s previous close.
SPOT has been the subject of several other reports. Guggenheim raised their price target on shares of Spotify Technology from $575.00 to $650.00 and gave the stock a “buy” rating in a research note on Friday. Benchmark reduced their target price on shares of Spotify Technology from $695.00 to $650.00 and set a “buy” rating for the company in a report on Wednesday, July 22nd. Barclays lifted their price target on shares of Spotify Technology from $565.00 to $650.00 and gave the company an “overweight” rating in a research note on Friday. Rosenblatt Securities reissued a “neutral” rating and set a $527.00 price target on shares of Spotify Technology in a research report on Tuesday. Finally, Citizens Jmp restated a “market outperform” rating and set a $625.00 price objective on shares of Spotify Technology in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $620.07.
Get Our Latest Research Report on SPOT
Spotify Technology Stock Down 0.5%
NYSE SPOT traded down $3.08 on Friday, reaching $580.58. The company had a trading volume of 1,151,251 shares, compared to its average volume of 2,198,670. Spotify Technology has a 52 week low of $405.00 and a 52 week high of $676.67. The stock’s 50 day moving average is $525.20 and its 200-day moving average is $497.27. The stock has a market cap of $119.53 billion, a price-to-earnings ratio of 36.19, a PEG ratio of 1.63 and a beta of 1.61.
Spotify Technology (NYSE:SPOT – Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $3.03 earnings per share for the quarter, missing the consensus estimate of $3.16 by ($0.13). Spotify Technology had a net margin of 18.44% and a return on equity of 41.39%. The company had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.47 billion. During the same quarter last year, the company earned ($0.42) EPS. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. As a group, analysts forecast that Spotify Technology will post 13.66 EPS for the current year.
Insider Transactions at Spotify Technology
In other news, CEO Alex Norström sold 5,436 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $502.10, for a total value of $2,729,415.60. Following the sale, the chief executive officer directly owned 66,773 shares of the company’s stock, valued at approximately $33,526,723.30. This represents a 7.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Gustav Söderström sold 20,910 shares of Spotify Technology stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $530.13, for a total value of $11,085,018.30. Following the transaction, the chief executive officer owned 19,908 shares of the company’s stock, valued at $10,553,828.04. The trade was a 51.23% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 68,092 shares of company stock worth $35,762,410. 0.40% of the stock is owned by insiders.
Institutional Investors Weigh In On Spotify Technology
Several hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC increased its holdings in shares of Spotify Technology by 20.1% in the first quarter. Janus Henderson Group PLC now owns 1,711,015 shares of the company’s stock valued at $829,641,000 after purchasing an additional 286,844 shares during the last quarter. Tiger Global Management LLC lifted its stake in shares of Spotify Technology by 25.3% during the 1st quarter. Tiger Global Management LLC now owns 1,580,761 shares of the company’s stock worth $766,527,000 after buying an additional 319,300 shares during the last quarter. Amundi boosted its holdings in shares of Spotify Technology by 20.0% during the 1st quarter. Amundi now owns 1,104,484 shares of the company’s stock worth $535,575,000 after buying an additional 183,994 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Spotify Technology by 53.4% during the 1st quarter. Principal Financial Group Inc. now owns 989,667 shares of the company’s stock worth $479,899,000 after buying an additional 344,471 shares during the period. Finally, Sei Investments Co. grew its stake in Spotify Technology by 1.8% in the 1st quarter. Sei Investments Co. now owns 749,495 shares of the company’s stock valued at $363,415,000 after buying an additional 13,381 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.
Spotify Technology News Roundup
Here are the key news stories impacting Spotify Technology this week:
- Positive Sentiment: Spotify reported 306 million premium subscribers, up 9% year over year and one million above guidance. Monthly active users rose 11% to 788 million, with growth across all regions. Spotify Stock Surges on Q3 Subscriber Beat And Bullish Forecast
- Positive Sentiment: Revenue increased approximately 16% year over year to €4.97 billion, while gross margin expanded to 33% and operating income exceeded company guidance. Spotify expects further margin improvement as expense growth moderates. Spotify revenue rises 16% as subscribers and margins improve
- Positive Sentiment: Management highlighted advertising recovery, AI-powered personalization through its “taste model,” audiobooks and AI-agent integrations as potential growth drivers. The company said AI is helping accelerate product launches without increasing headcount significantly. Spotify Q3 Earnings Call Highlights Ad Recovery and Cost Control
- Positive Sentiment: Several analysts raised their price targets following the results, including Wells Fargo to $660, Barclays and Guggenheim to $650, and Citizens JMP to $625, generally maintaining bullish ratings. Spotify Analysts Raise Their Forecasts Following Q3 Earnings
- Neutral Sentiment: Spotify guided to roughly $6.0 billion of fourth-quarter revenue, broadly matching consensus. It also expects approximately 818 million MAUs and 316 million premium subscribers, implying continued growth.
- Negative Sentiment: Quarterly EPS missed analyst expectations, and revenue was slightly below estimates. The earnings shortfall contrasts with the strong subscriber performance and could limit near-term upside. Spotify Q3 Earnings Miss Estimates
- Negative Sentiment: Not all analysts turned bullish: TD Cowen reaffirmed a Hold rating with a $525 target, while Cantor Fitzgerald maintained Neutral with a $550 target, both below the prevailing share price. TD Cowen Spotify Rating
Spotify Technology Company Profile
Spotify Technology SA is an audio streaming company that operates the Spotify platform, offering users access to music, podcasts and audiobooks through internet-connected devices. Its catalog includes licensed recordings from music labels and artists, as well as podcasts and other audio content from creators and publishers.
Spotify provides both an ad-supported service and subscription-based Premium plans. Premium subscribers generally receive ad-free listening and additional features, while the advertising-supported service allows users to access content without a paid subscription.
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