Cantor Fitzgerald Boosts Spotify Technology (NYSE:SPOT) Price Target to $530.00

Key Points

• Cantor Fitzgerald raised Spotify’s price target from $510 to $530 while maintaining a “neutral” rating, implying approximately 9.73% upside from the prior close.
• Analyst sentiment is broadly positive, with Spotify receiving a consensus “Moderate Buy” rating and an average price target of $630, despite several firms recently lowering their targets.
• Spotify shares opened at $483, giving the company a market capitalization of about $99.4 billion; insiders have sold roughly $45.8 million of stock over the past 90 days.

Spotify Technology (NYSE:SPOT - Get Free Report) had its price target increased by stock analysts at Cantor Fitzgerald from $510.00 to $530.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Cantor Fitzgerald's target price would suggest a potential upside of 9.73% from the stock's previous close.

A number of other analysts have also recently commented on SPOT. Rosenblatt Securities cut their target price on shares of Spotify Technology from $531.00 to $527.00 and set a "neutral" rating for the company in a research note on Wednesday. Canaccord Genuity Group decreased their price target on shares of Spotify Technology from $750.00 to $720.00 and set a "buy" rating on the stock in a research note on Wednesday, April 29th. Pivotal Research lowered their price objective on Spotify Technology from $420.00 to $400.00 and set a "hold" rating on the stock in a report on Wednesday, April 29th. Wells Fargo & Company cut their price objective on Spotify Technology from $600.00 to $570.00 and set an "overweight" rating for the company in a research note on Thursday, July 9th. Finally, Barclays increased their target price on Spotify Technology from $500.00 to $565.00 and gave the company an "overweight" rating in a report on Friday, May 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $630.00.

Spotify Technology Stock Performance

NYSE:SPOT opened at $483.00 on Wednesday. The company has a fifty day moving average of $484.53 and a two-hundred day moving average of $485.46. The stock has a market capitalization of $99.44 billion, a PE ratio of 38.49, a P/E/G ratio of 1.21 and a beta of 1.58. Spotify Technology has a fifty-two week low of $405.00 and a fifty-two week high of $748.30.

Insider Transactions at Spotify Technology

In related news, CEO Gustav Soderstrom sold 20,833 shares of Spotify Technology stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $478.45, for a total transaction of $9,967,548.85. Following the transaction, the chief executive officer owned 20,259 shares in the company, valued at approximately $9,692,918.55. This trade represents a 50.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Christopher P. Marshall sold 2,650 shares of the company's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $519.86, for a total value of $1,377,629.00. Following the completion of the sale, the director owned 4,039 shares of the company's stock, valued at approximately $2,099,714.54. The trade was a 39.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 90,609 shares of company stock valued at $45,784,363. 0.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Spotify Technology

Institutional investors and hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. boosted its stake in Spotify Technology by 12.9% during the fourth quarter. Principal Financial Group Inc. now owns 645,196 shares of the company's stock worth $374,672,000 after buying an additional 73,722 shares during the period. City Holding Co. raised its stake in shares of Spotify Technology by 2,515.9% in the 4th quarter. City Holding Co. now owns 5,598 shares of the company's stock valued at $3,251,000 after acquiring an additional 5,384 shares during the period. SBI Okasan Asset Management Co.Ltd. acquired a new position in shares of Spotify Technology in the 4th quarter worth approximately $1,162,000. Robeco Schweiz AG lifted its holdings in shares of Spotify Technology by 37.6% in the 4th quarter. Robeco Schweiz AG now owns 18,544 shares of the company's stock worth $10,769,000 after acquiring an additional 5,071 shares during the last quarter. Finally, Sycale Advisors NY LLC lifted its holdings in shares of Spotify Technology by 89.6% in the 4th quarter. Sycale Advisors NY LLC now owns 36,075 shares of the company's stock worth $20,949,000 after acquiring an additional 17,050 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

More Spotify Technology News

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

• Positive Sentiment: Spotify surpassed 300 million Premium subscribers for the first time, while monthly active users rose 12% year over year to 777 million. The milestone reinforces the company’s scale and supports its long-term pricing, advertising and engagement opportunities. Spotify now has over 300M subscribers
• Positive Sentiment: Second-quarter revenue increased approximately 14% year over year to €4.78 billion, and Spotify swung from a year-earlier loss to roughly €545 million in net income. The company also reported record gross-margin performance, highlighting operating leverage as the business expands. Spotify tops 300 million premium subscribers as profit surges
• Positive Sentiment: Spotify expanded its planned AI-powered remix and cover product through a licensing agreement with Merlin, which represents more than 30,000 independent labels and distributors. The opt-in model is intended to provide artist credit and compensation while creating a potential new paid feature. Spotify adds Merlin to its AI music remix and covers effort
• Neutral Sentiment: Management issued a strong third-quarter revenue outlook of about €5.00 billion, with projected operating income of approximately €670 million and gross margin of 32.9%. However, the guidance also calls for 788 million monthly active users, implying slower growth than the latest quarter.
• Negative Sentiment: Second-quarter earnings per share came in below analyst expectations, and revenue was slightly under consensus. The shortfall overshadowed the subscriber milestone and raised concerns that Spotify’s higher marketing investment and spending on AI features could pressure near-term profitability. Spotify forecasts weak profit as user growth slows
• Negative Sentiment: User growth is slowing in Spotify’s key North American and European markets, while the third-quarter profit forecast fell below Wall Street expectations. That outlook, rather than subscriber totals alone, appears to be driving the negative investor reaction. Spotify Stock Falls After Music Streamer Misses Earnings Goal

Spotify Technology Company Profile

Spotify Technology is a digital audio streaming company best known for its on-demand music service and a growing portfolio of spoken-word content. Founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon and launched commercially in 2008, the company offers a cross-platform app that enables users to discover, stream and organize music, podcasts and other audio. Its primary consumer products include a free, ad-supported tier and a paid Spotify Premium subscription that provides ad-free listening, offline playback and higher-quality audio streams.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source