Spotify Technology (NYSE:SPOT) Stock Price Expected to Rise, Citigroup Analyst Says

Key Points

• Citigroup has raised its price target for Spotify Technology (NYSE:SPOT) from $715.00 to $750.00, suggesting a potential upside of 3.99% from its previous close.
• Multiple analysts are divided on Spotify's stock, with 20 maintaining a Buy rating and others, like Rosenblatt Securities, reducing their price target.
• The company reported a revenue increase of 10.1% year-over-year, although it missed earnings estimates with an EPS of ($0.42) for the last quarter.

Spotify Technology (NYSE:SPOT - Free Report) had its target price lifted by Citigroup from $715.00 to $750.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Citigroup currently has a neutral rating on the stock.

Several other equities research analysts have also weighed in on the company. Benchmark decreased their price objective on Spotify Technology from $840.00 to $800.00 and set a "buy" rating for the company in a report on Wednesday, July 30th. JPMorgan Chase & Co. lifted their price objective on Spotify Technology from $730.00 to $780.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Pivotal Research lifted their price objective on Spotify Technology from $800.00 to $900.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. Bank of America lifted their price objective on Spotify Technology from $700.00 to $900.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. Finally, KeyCorp decreased their price objective on Spotify Technology from $860.00 to $830.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. Twenty analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat, Spotify Technology currently has a consensus rating of "Moderate Buy" and a consensus price target of $721.07.

Spotify Technology Price Performance

Shares of Spotify Technology stock traded up $6.60 during trading hours on Tuesday, hitting $696.91. 1,169,675 shares of the company's stock traded hands, compared to its average volume of 1,314,305. Spotify Technology has a 12-month low of $337.15 and a 12-month high of $785.00. The stock has a market capitalization of $142.66 billion, a price-to-earnings ratio of 169.15, a PEG ratio of 2.97 and a beta of 1.71. The company has a fifty day simple moving average of $693.51 and a 200-day simple moving average of $649.20.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SPOT. Knuff & Co LLC bought a new stake in shares of Spotify Technology during the 2nd quarter valued at about $27,000. Total Investment Management Inc. purchased a new position in shares of Spotify Technology during the second quarter worth about $29,000. Sound Income Strategies LLC grew its holdings in shares of Spotify Technology by 156.3% during the second quarter. Sound Income Strategies LLC now owns 41 shares of the company's stock worth $31,000 after purchasing an additional 25 shares in the last quarter. GFG Capital LLC purchased a new position in shares of Spotify Technology during the second quarter worth about $33,000. Finally, Cornerstone Planning Group LLC grew its holdings in shares of Spotify Technology by 512.5% during the first quarter. Cornerstone Planning Group LLC now owns 49 shares of the company's stock worth $29,000 after purchasing an additional 41 shares in the last quarter. Institutional investors own 84.09% of the company's stock.

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.