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

Key Points

• Guggenheim increased its price target for Spotify Technology from $800.00 to $850.00, suggesting a potential upside of 16.16% from its current stock price.
• Spotify recently reported a loss of ($0.42) earnings per share, missing analysts' consensus estimates, although it saw revenue growth of 10.1% year-over-year.
• Overall, Spotify Technology has a consensus rating of "Moderate Buy" with twenty analysts recommending a buy and ten rating it as hold.

Spotify Technology (NYSE:SPOT - Free Report) had its target price hoisted by Guggenheim from $800.00 to $850.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts have also commented on SPOT. Benchmark cut their price objective on shares of Spotify Technology from $840.00 to $800.00 and set a "buy" rating for the company in a research report on Wednesday, July 30th. Barclays cut their price target on shares of Spotify Technology from $800.00 to $750.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. JPMorgan Chase & Co. boosted their target price 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. Morgan Stanley lowered their price target on Spotify Technology from $850.00 to $800.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. Finally, Oppenheimer raised Spotify Technology from a "market perform" rating to an "outperform" rating and set a $800.00 target price for the company in a research report on Thursday, July 24th. Twenty research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $720.07.

Spotify Technology Price Performance

Shares of SPOT stock traded down $13.2730 on Monday, hitting $690.5170. The stock had a trading volume of 1,613,012 shares, compared to its average volume of 2,309,173. The business has a 50 day moving average of $704.31 and a 200 day moving average of $640.09. The stock has a market cap of $141.36 billion, a price-to-earnings ratio of 167.60, a price-to-earnings-growth ratio of 3.09 and a beta of 1.69. Spotify Technology has a 12-month low of $319.07 and a 12-month 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 the consensus estimate of $2.00 by ($2.42). The firm had revenue of $4.94 billion during the quarter, compared to analysts' expectations of $4.29 billion. Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The business's revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.33 EPS. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, research analysts expect that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Institutional Trading of Spotify Technology

Hedge funds have recently modified their holdings of the company. Knuff & Co LLC purchased a new stake in Spotify Technology during the 2nd quarter valued at $27,000. Sound Income Strategies LLC raised its holdings in Spotify Technology by 156.3% during the 2nd quarter. Sound Income Strategies LLC now owns 41 shares of the company's stock valued at $31,000 after buying an additional 25 shares during the period. GFG Capital LLC purchased a new stake in Spotify Technology during the 2nd quarter valued at $33,000. Cornerstone Planning Group LLC raised its holdings in Spotify Technology by 512.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 49 shares of the company's stock valued at $29,000 after buying an additional 41 shares during the period. Finally, Tsfg LLC purchased a new stake in Spotify Technology during the 1st quarter valued at $28,000. 84.09% of the stock is owned by hedge funds and other institutional investors.

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.