BNP Paribas Exane Initiates Coverage on Spotify Technology (NYSE:SPOT)

Key Points

• BNP Paribas Exane has initiated coverage on Spotify Technology, setting an "outperform" rating and a price target of $900.00, suggesting a potential upside of 27.97% from current levels.
• JPMorgan Chase, Phillip Securities, and Wells Fargo have also updated their price objectives for Spotify, indicating a generally positive outlook among various analysts with an average target price of $726.84.
• Spotify reported a loss of $0.42 per share for the last quarter, missing expectations, but had a revenue of $4.94 billion, exceeding forecasts.

Analysts at BNP Paribas Exane assumed coverage on shares of Spotify Technology (NYSE:SPOT - Get Free Report) in a research note issued on Tuesday,Briefing.com Automated Import reports. The brokerage set an "outperform" rating and a $900.00 price target on the stock. BNP Paribas Exane's price target would suggest a potential upside of 27.97% from the company's current price.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of Spotify Technology from $730.00 to $780.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Phillip Securities upgraded shares of Spotify Technology from a "moderate sell" rating to a "hold" rating in a report on Monday, August 4th. Sanford C. Bernstein upped their price objective on shares of Spotify Technology from $825.00 to $840.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Wells Fargo & Company upped their target price on Spotify Technology from $740.00 to $750.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Finally, Barclays dropped their target price on Spotify Technology from $800.00 to $750.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Twenty-one research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $726.84.

Spotify Technology Price Performance

SPOT stock opened at $703.28 on Tuesday. The business has a 50-day moving average price of $692.82 and a 200 day moving average price of $650.27. The company has a market capitalization of $143.97 billion, a P/E ratio of 170.70, a PEG ratio of 2.99 and a beta of 1.71. Spotify Technology has a 1-year low of $337.15 and a 1-year high of $785.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced 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 return on equity of 13.67% and a net margin of 4.76%.The business's revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $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.

Institutional Trading of Spotify Technology

A number of hedge funds and other institutional investors have recently modified their holdings of SPOT. Valeo Financial Advisors LLC grew its holdings in shares of Spotify Technology by 29.5% during the 2nd quarter. Valeo Financial Advisors LLC now owns 496 shares of the company's stock worth $381,000 after purchasing an additional 113 shares during the period. American Trust purchased a new stake in Spotify Technology during the second quarter worth approximately $358,000. Total Investment Management Inc. purchased a new stake in Spotify Technology in the second quarter valued at approximately $29,000. Centaurus Financial Inc. purchased a new stake in Spotify Technology in the second quarter valued at approximately $182,000. Finally, China Universal Asset Management Co. Ltd. increased its holdings in shares of Spotify Technology by 65.5% in the second quarter. China Universal Asset Management Co. Ltd. now owns 4,550 shares of the company's stock valued at $3,491,000 after purchasing an additional 1,800 shares during the period. 84.09% of the stock is owned by institutional investors and hedge funds.

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.

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