Spotify Technology (NYSE:SPOT) Stock Dropped to “Moderate Buy” by Phillip Securities

Posted by Brian Himes on Oct 27th, 2026

Phillip Securities downgraded shares of Spotify Technology (NYSE:SPOT – Free Report) from a strong-buy rating to a moderate buy rating in a research report sent to investors on Monday,Zacks reports.

A number of other analysts also recently weighed in on SPOT. Weiss Ratings upgraded Spotify Technology from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, August 26th. JPMorgan Chase & Co. increased their price target on shares of Spotify Technology from $650.00 to $700.00 and gave the company an “overweight” rating in a research report on Friday. Cantor Fitzgerald increased their price target on shares of Spotify Technology from $490.00 to $550.00 and gave the company a “neutral” rating in a research report on Friday. Zacks Research downgraded shares of Spotify Technology from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 22nd. Finally, Piper Sandler restated a “neutral” rating and issued a $580.00 price objective (up from $540.00) on shares of Spotify Technology in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $620.07.

Read Our Latest Stock Report on Spotify Technology

Spotify Technology Stock Down 2.0%

Shares of SPOT stock opened at $572.69 on Monday. The business has a 50-day moving average price of $526.03 and a two-hundred day moving average price of $497.95. Spotify Technology has a 12-month low of $405.00 and a 12-month high of $673.16. The firm has a market cap of $117.91 billion, a P/E ratio of 37.97, a price-to-earnings-growth ratio of 1.81 and a beta of 1.61.

Spotify Technology (NYSE:SPOT – Get Free Report) last posted its quarterly earnings data on Thursday, October 22nd. The company reported $2.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.18 by ($0.37). The firm had revenue of $5.63 billion during the quarter, compared to analysts’ expectations of $5.64 billion. Spotify Technology had a return on equity of 35.64% and a net margin of 15.74%. Spotify Technology’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.28 earnings per share. As a group, research analysts expect that Spotify Technology will post 13.62 EPS for the current fiscal year.

Insider Transactions at Spotify Technology

In other news, CEO Gustav Söderström sold 20,913 shares of Spotify Technology stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $544.19, for a total value of $11,380,645.47. Following the transaction, the chief executive officer owned 20,025 shares in the company, valued at approximately $10,897,404.75. The trade was a 51.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Alex Norström sold 5,436 shares of Spotify Technology stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $502.10, for a total value of $2,729,415.60. Following the completion of the transaction, the chief executive officer owned 66,773 shares in the company, valued at approximately $33,526,723.30. This represents a 7.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 68,092 shares of company stock worth $35,762,410 over the last ninety days. Insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Spotify Technology

A number of large investors have recently bought and sold shares of SPOT. Janus Henderson Group PLC boosted its stake in shares of Spotify Technology by 20.1% during 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 period. Tiger Global Management LLC increased its stake in shares of Spotify Technology by 25.3% in the first 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 period. Amundi increased its stake in shares of Spotify Technology by 20.0% in the first 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. raised its holdings in Spotify Technology by 53.4% during the 1st quarter. Principal Financial Group Inc. now owns 989,667 shares of the company’s stock valued at $479,899,000 after buying an additional 344,471 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in Spotify Technology by 1.8% during 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. 84.09% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Spotify Technology

Here are the key news stories impacting Spotify Technology this week:

Positive Sentiment: Jefferies raised its price target for Spotify to $620 from $600 and described the platform as “highly defensible” against artificial-intelligence competition. Several other firms, including JPMorgan, Morgan Stanley, Guggenheim, Barclays, Wells Fargo, Cantor Fitzgerald, Oppenheimer and Citizens JMP, also maintained bullish views or raised their targets. Jefferies Spotify analysis
Positive Sentiment: Spotify’s latest quarter showed double-digit revenue growth and significant gains in users and subscribers. Management expects continued momentum in the current quarter, with guidance calling for roughly €5.2 billion in revenue and 10% user growth. Spotify earnings growth analysis
Neutral Sentiment: Spotify retains a strong competitive position through its scale, market share and exclusive content, but investors are monitoring potential bundling pressure from Apple and YouTube Music. Piper Sandler reaffirmed a Neutral rating, highlighting a more balanced risk-reward profile. Spotify earnings and competitive outlook
Negative Sentiment: Spotify’s quarterly results fell short of expectations, with adjusted earnings and revenue missing analyst forecasts. The company’s reported EPS of $2.81 was below the $3.18 consensus, while revenue of $5.63 billion was slightly under the $5.64 billion estimate. Spotify earnings miss
Negative Sentiment: Engagement concerns at Netflix have spread across streaming and media stocks, weighing on Spotify despite its company-specific growth drivers. This broader risk-off move suggests investors are scrutinizing the sustainability of streaming usage and monetization. Streaming-sector selloff

About Spotify Technology

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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.