Spotify Technology (NYSE:SPOT – Get Free Report) was downgraded by equities researchers at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a report released on Tuesday, Marketbeat.com reports. They currently have a $770.00 target price on the stock, up from their previous target price of $765.00. The Goldman Sachs Group’s target price indicates a potential upside of 9.69% from the company’s previous close.
SPOT has been the subject of several other research reports. BNP Paribas raised shares of Spotify Technology to a “strong-buy” rating in a research report on Tuesday, September 16th. KeyCorp reduced their price objective on shares of Spotify Technology from $860.00 to $830.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. Guggenheim reissued a “buy” rating and set a $850.00 target price on shares of Spotify Technology in a research report on Wednesday, September 3rd. Bank of America raised their price target on shares of Spotify Technology from $700.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, June 26th. Finally, Canaccord Genuity Group boosted their price objective on Spotify Technology from $775.00 to $850.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $731.16.
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Spotify Technology Price Performance
SPOT stock opened at $702.00 on Tuesday. The stock has a market capitalization of $143.71 billion, a PE ratio of 170.39, a price-to-earnings-growth ratio of 3.00 and a beta of 1.67. The company’s 50-day moving average is $695.53 and its 200-day moving average is $662.76. Spotify Technology has a 1 year low of $362.31 and a 1 year high of $785.00.
Spotify Technology (NYSE:SPOT – Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of $2.00 by ($2.42). The firm had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $4.29 billion. Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.33 earnings per share. Spotify Technology has set its Q3 2025 guidance at EPS. On average, analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Spotify Technology
Several institutional investors have recently modified their holdings of the business. 180 Wealth Advisors LLC raised its stake in shares of Spotify Technology by 6.8% during the 1st quarter. 180 Wealth Advisors LLC now owns 664 shares of the company’s stock worth $365,000 after purchasing an additional 42 shares during the period. NBC Securities Inc. bought a new stake in Spotify Technology in the first quarter worth about $384,000. LVW Advisors LLC boosted its stake in Spotify Technology by 65.0% in the first quarter. LVW Advisors LLC now owns 1,076 shares of the company’s stock valued at $592,000 after acquiring an additional 424 shares during the last quarter. Harbor Investment Advisory LLC boosted its stake in Spotify Technology by 1,298.1% in the first quarter. Harbor Investment Advisory LLC now owns 1,510 shares of the company’s stock valued at $831,000 after acquiring an additional 1,402 shares during the last quarter. Finally, Merit Financial Group LLC grew its position in shares of Spotify Technology by 28.7% during the 1st quarter. Merit Financial Group LLC now owns 4,180 shares of the company’s stock valued at $2,299,000 after acquiring an additional 932 shares during the period. 84.09% of the stock is owned by institutional investors.
Spotify Technology Company Profile
(Get Free Report)
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.
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