Spotify Technology (NYSE:SPOT) Price Target Raised to $675.00

Spotify Technology (NYSE:SPOT) had its target price hoisted by Cantor Fitzgerald from $640.00 to $675.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

SPOT has been the topic of several other research reports. BNP Paribas upgraded Spotify Technology to a “strong-buy” rating in a report on Tuesday, September 16th. Benchmark increased their target price on Spotify Technology from $800.00 to $860.00 and gave the stock a “buy” rating in a report on Wednesday. DZ Bank raised shares of Spotify Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Citigroup upped their price objective on shares of Spotify Technology from $715.00 to $750.00 and gave the stock a “neutral” rating in a report on Tuesday, September 9th. Finally, Pivotal Research dropped their price objective on shares of Spotify Technology from $900.00 to $875.00 and set a “buy” rating on the stock in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $729.94.

Spotify Technology Price Performance

Shares of NYSE:SPOT traded down $1.04 during mid-day trading on Wednesday, hitting $617.16. The company had a trading volume of 1,842,830 shares, compared to its average volume of 1,775,166. Spotify Technology has a one year low of $397.33 and a one year high of $785.00. The firm has a fifty day moving average price of $685.11 and a 200 day moving average price of $682.31. The company has a market capitalization of $127.07 billion, a PE ratio of 97.04, a price-to-earnings-growth ratio of 2.49 and a beta of 1.67.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $3.83 earnings per share for the quarter, beating the consensus estimate of $1.87 by $1.96. The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.23 billion. Spotify Technology had a net margin of 8.46% and a return on equity of 21.68%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.45 earnings per share. Spotify Technology has set its Q4 2025 guidance at EPS. Research analysts expect that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. State Street Corp raised its stake in shares of Spotify Technology by 1.7% during the 2nd quarter. State Street Corp now owns 4,574,228 shares of the company’s stock worth $3,509,988,000 after purchasing an additional 74,256 shares during the period. Jennison Associates LLC boosted its holdings in shares of Spotify Technology by 42.3% in the 1st quarter. Jennison Associates LLC now owns 4,247,940 shares of the company’s stock worth $2,336,494,000 after buying an additional 1,262,614 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Spotify Technology by 3.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,526,988 shares of the company’s stock valued at $1,939,949,000 after buying an additional 112,553 shares during the period. Fisher Asset Management LLC increased its holdings in Spotify Technology by 22.7% during the second quarter. Fisher Asset Management LLC now owns 2,489,013 shares of the company’s stock worth $1,909,920,000 after buying an additional 460,115 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Spotify Technology by 1,151.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company’s stock worth $957,494,000 after acquiring an additional 1,601,653 shares during the period. Institutional investors own 84.09% of the company’s stock.

About Spotify Technology

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.