Spotify Technology's (SPOT) Buy Rating Reiterated at Guggenheim

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 reaffirmed their buy rating on shares of Spotify Technology (NYSE:SPOT - Free Report) in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has a $850.00 price objective on the stock.

Several other research analysts also recently weighed in on SPOT. Evercore ISI upped their target price on Spotify Technology from $650.00 to $750.00 and gave the stock an "outperform" rating in a research note on Monday, June 16th. Wells Fargo & Company increased their price objective on Spotify Technology from $740.00 to $750.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. DZ Bank raised Spotify Technology from a "sell" rating to a "hold" rating and set a $652.00 price objective for the company in a research note on Wednesday, July 30th. Rosenblatt Securities reduced their price objective on Spotify Technology from $703.00 to $679.00 and set a "neutral" rating for the company in a research note on Wednesday, July 30th. Finally, Cantor Fitzgerald increased their price objective on Spotify Technology from $610.00 to $640.00 and gave the company a "neutral" rating in a research note on Wednesday, June 18th. Twenty research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $720.07.

Spotify Technology Stock Up 0.6%

Shares of SPOT stock traded up $3.87 during trading hours on Wednesday, hitting $707.72. 1,210,930 shares of the company's stock were exchanged, compared to its average volume of 1,360,664. The firm has a market cap of $144.88 billion, a P/E ratio of 171.78, a P/E/G ratio of 3.03 and a beta of 1.71. The firm has a 50 day moving average of $695.80 and a two-hundred day moving average of $645.73. Spotify Technology has a fifty-two week low of $319.07 and a fifty-two week 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) earnings per share for the quarter, missing the consensus estimate of $2.00 by ($2.42). The business had revenue of $4.94 billion for the quarter, compared to analyst estimates of $4.29 billion. Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%.The company's quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the company 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 earnings per share for the current fiscal year.

Institutional Trading of Spotify Technology

Large investors have recently added to or reduced their stakes in the stock. Mpwm Advisory Solutions LLC purchased a new stake in Spotify Technology in the 4th quarter valued at $26,000. Knuff & Co LLC purchased a new stake in Spotify Technology in the 2nd quarter valued at $27,000. Tsfg LLC purchased a new stake in Spotify Technology in the 1st quarter valued at $28,000. Copia Wealth Management purchased a new position in shares of Spotify Technology during the 4th quarter worth $29,000. Finally, Cornerstone Planning Group LLC grew its holdings in shares of Spotify Technology by 512.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 49 shares of the company's stock worth $29,000 after purchasing an additional 41 shares during the period. 84.09% of the stock is currently owned by hedge funds and other 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.