Guggenheim Reaffirms Buy Rating for Spotify Technology (NYSE:SPOT)

Key Points

• Guggenheim has reaffirmed its "Buy" rating for Spotify Technology (NYSE: SPOT) with a price target of $850.00, indicating a potential upside of 20.21% from its previous close.
• Spotify's stock was up 2.5% in mid-day trading, reaching $707.10, with a twelve-month high of $785.00.
• Spotify reported a revenue of $4.94 billion for the last quarter, exceeding consensus estimates, though it posted a loss of ($0.42) EPS.

Guggenheim restated their buy rating on shares of Spotify Technology (NYSE:SPOT - Free Report) in a report issued on Wednesday morning,Benzinga reports. They currently have a $850.00 price objective on the stock.

Other research analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft raised their price target on Spotify Technology from $700.00 to $775.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Barclays lowered their target price on shares of Spotify Technology from $800.00 to $750.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Sanford C. Bernstein increased their target price on shares of Spotify Technology from $825.00 to $840.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Wells Fargo & Company raised their price target on Spotify Technology from $740.00 to $750.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Finally, Oppenheimer lifted their target price on Spotify Technology from $750.00 to $825.00 and gave the company an "outperform" rating in a research note on Monday, August 18th. Twenty equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, Spotify Technology has a consensus rating of "Moderate Buy" and a consensus target price of $720.07.

Spotify Technology Trading Up 0.5%

SPOT traded up $3.61 on Wednesday, hitting $710.80. The company had a trading volume of 563,418 shares, compared to its average volume of 2,230,567. The firm has a market cap of $145.51 billion, a P/E ratio of 172.53, a PEG ratio of 3.04 and a beta of 1.71. Spotify Technology has a 1 year low of $322.35 and a 1 year high of $785.00. The company's fifty day moving average price is $695.80 and its 200 day moving average price is $645.82.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported ($0.42) earnings per share for the quarter, missing analysts' consensus estimates of $2.00 by ($2.42). The company had revenue of $4.94 billion for the quarter, compared to analysts' expectations 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 was up 10.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.33 EPS. Spotify Technology has set its Q3 2025 guidance at EPS. On average, analysts predict that Spotify Technology will post 10.3 earnings per share for the current year.

Institutional Trading of Spotify Technology

Several institutional investors and hedge funds have recently made changes to their positions in the stock. QRG Capital Management Inc. lifted its holdings in Spotify Technology by 36.3% in the 1st quarter. QRG Capital Management Inc. now owns 710 shares of the company's stock valued at $391,000 after purchasing an additional 189 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Spotify Technology by 38.1% during the first quarter. GAMMA Investing LLC now owns 1,305 shares of the company's stock valued at $718,000 after buying an additional 360 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Spotify Technology by 16.0% during the 1st 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 lifted its stake in shares of Spotify Technology by 30.7% during the 1st 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 lifted its position in Spotify Technology by 238.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,441 shares of the company's stock worth $13,993,000 after buying an additional 17,932 shares during the period. 84.09% of the stock is currently 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.