Citigroup Issues Positive Forecast for Spotify Technology (NYSE:SPOT) Stock Price

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 - Get Free Report) had its price target hoisted by analysts at Citigroup from $715.00 to $750.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Citigroup's price objective would indicate a potential upside of 3.99% from the stock's previous close.

SPOT has been the subject of a number of other reports. Rosenblatt Securities cut their price objective on Spotify Technology from $703.00 to $679.00 and set a "neutral" rating for the company in a report on Wednesday, July 30th. Oppenheimer lifted their price objective on Spotify Technology from $750.00 to $825.00 and gave the company an "outperform" rating in a report on Monday, August 18th. Cantor Fitzgerald lifted their price objective on Spotify Technology from $610.00 to $640.00 and gave the company a "neutral" rating in a report on Wednesday, June 18th. Sanford C. Bernstein lifted their price objective on Spotify Technology from $825.00 to $840.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Finally, Bank of America lifted their price objective on Spotify Technology from $700.00 to $900.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Twenty investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $721.07.

Spotify Technology Trading Up 0.4%

SPOT stock traded up $2.96 during midday trading on Tuesday, hitting $721.24. The stock had a trading volume of 322,462 shares, compared to its average volume of 2,223,383. The firm has a market capitalization of $147.64 billion, a price-to-earnings ratio of 175.12, a P/E/G ratio of 3.04 and a beta of 1.71. Spotify Technology has a 52 week low of $324.16 and a 52 week high of $785.00. The stock has a 50-day simple moving average of $694.82 and a 200 day simple moving average of $646.60.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate 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 firm's revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period last year, the business earned $1.33 earnings per share. Spotify Technology has set its Q3 2025 guidance at EPS. On average, equities analysts forecast that Spotify Technology will post 10.3 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. QRG Capital Management Inc. raised its holdings in shares of Spotify Technology by 36.3% in the first quarter. QRG Capital Management Inc. now owns 710 shares of the company's stock valued at $391,000 after buying an additional 189 shares during the last quarter. GAMMA Investing LLC increased its position in Spotify Technology by 38.1% in the first quarter. GAMMA Investing LLC now owns 1,305 shares of the company's stock worth $718,000 after purchasing an additional 360 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in Spotify Technology by 16.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,543 shares of the company's stock worth $4,699,000 after purchasing an additional 1,179 shares during the period. Fifth Third Bancorp increased its position in Spotify Technology by 30.7% in the first quarter. Fifth Third Bancorp now owns 302 shares of the company's stock worth $166,000 after purchasing an additional 71 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in Spotify Technology by 238.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,441 shares of the company's stock worth $13,993,000 after purchasing an additional 17,932 shares during the period. 84.09% of the stock is owned by institutional investors.

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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