Argus Begins Coverage on Spotify Technology (NYSE:SPOT)

Key Points

• Argus has initiated coverage on Spotify Technology (NYSE:SPOT) with a "buy" rating and a price target of $845.00, suggesting an upside of 18.04% from its previous close.
• Spotify reported a loss of ($0.42) earnings per share for the last quarter, missing estimates significantly, but its revenue was $4.94 billion, exceeding expectations.
• The company has a consensus rating of "Moderate Buy" from analysts, with a consensus price target of $731.31.

Argus initiated coverage on shares of Spotify Technology (NYSE:SPOT - Get Free Report) in a note issued to investors on Monday,Benzinga reports. The firm set a "buy" rating and a $845.00 price target on the stock. Argus' price objective would indicate a potential upside of 18.04% from the company's previous close.

SPOT has been the subject of several other reports. KeyCorp lowered their price objective on shares of Spotify Technology from $860.00 to $830.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th. Benchmark reduced their price target on shares of Spotify Technology from $840.00 to $800.00 and set a "buy" rating on the stock in a research report on Wednesday, July 30th. DZ Bank raised shares of Spotify Technology from a "sell" rating to a "hold" rating and set a $652.00 price objective for the company in a research report on Wednesday, July 30th. Wells Fargo & Company upped their price target on shares of Spotify Technology from $740.00 to $750.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Finally, The Goldman Sachs Group raised their price objective on Spotify Technology from $680.00 to $775.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, Spotify Technology has a consensus rating of "Moderate Buy" and a consensus price target of $731.31.

Spotify Technology Stock Up 0.5%

Shares of Spotify Technology stock opened at $715.87 on Monday. Spotify Technology has a fifty-two week low of $362.31 and a fifty-two week high of $785.00. The business's fifty day moving average is $694.06 and its two-hundred day moving average is $661.18. The firm has a market cap of $146.55 billion, a PE ratio of 173.76, a P/E/G ratio of 3.08 and a beta of 1.71.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of $2.00 by ($2.42). The business had revenue of $4.94 billion for the quarter, compared to analysts' expectations of $4.29 billion. Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%.The business's quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.33 earnings per share. Spotify Technology has set its Q3 2025 guidance at EPS. Equities research analysts anticipate that Spotify Technology will post 10.3 EPS for the current year.

Institutional Trading of Spotify Technology

Institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers raised its stake in shares of Spotify Technology by 3.3% in the 1st quarter. Rhumbline Advisers now owns 195,859 shares of the company's stock valued at $107,728,000 after purchasing an additional 6,249 shares in the last quarter. 180 Wealth Advisors LLC raised its stake in Spotify Technology by 6.8% during the first quarter. 180 Wealth Advisors LLC now owns 664 shares of the company's stock valued at $365,000 after buying an additional 42 shares in the last quarter. NBC Securities Inc. bought a new position in Spotify Technology during the 1st quarter worth approximately $384,000. LVW Advisors LLC grew its position in shares of Spotify Technology by 65.0% in the 1st quarter. LVW Advisors LLC now owns 1,076 shares of the company's stock worth $592,000 after acquiring an additional 424 shares in the last quarter. Finally, Harbor Investment Advisory LLC increased its holdings in shares of Spotify Technology by 1,298.1% in the 1st 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. 84.09% of the stock is owned by institutional investors and hedge funds.

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.

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