Spotify Technology (NYSE:SPOT - Get Free Report)'s stock had its "buy" rating reiterated by stock analysts at Guggenheim in a report released on Wednesday,Benzinga reports. They presently have a $565.00 price objective on the stock. Guggenheim's price target indicates a potential upside of 16.98% from the stock's current price.
Several other analysts have also recently commented on the stock. Wall Street Zen cut shares of Spotify Technology from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Wells Fargo & Company cut their price objective on Spotify Technology from $600.00 to $570.00 and set an "overweight" rating for the company in a research report on Thursday, July 9th. Pivotal Research reduced their target price on Spotify Technology from $420.00 to $400.00 and set a "hold" rating on the stock in a report on Wednesday, April 29th. KeyCorp decreased their target price on Spotify Technology from $745.00 to $680.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. increased their price target on Spotify Technology from $600.00 to $650.00 and gave the company an "overweight" rating in a research note on Friday, May 22nd. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $629.55.
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Spotify Technology Price Performance
Spotify Technology stock opened at $483.00 on Wednesday. The stock has a market cap of $99.44 billion, a P/E ratio of 38.49, a PEG ratio of 1.21 and a beta of 1.58. Spotify Technology has a 1 year low of $405.00 and a 1 year high of $748.30. The firm's 50 day moving average price is $484.53 and its 200-day moving average price is $485.46.
Insider Activity at Spotify Technology
In other Spotify Technology news, Director Thomas O. Staggs sold 5,477 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $526.00, for a total transaction of $2,880,902.00. Following the sale, the director directly owned 3,619 shares in the company, valued at $1,903,594. This represents a 60.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Christopher P. Marshall sold 2,650 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $519.86, for a total value of $1,377,629.00. Following the completion of the sale, the director directly owned 4,039 shares of the company's stock, valued at $2,099,714.54. The trade was a 39.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 90,609 shares of company stock valued at $45,784,363 over the last ninety days. 0.40% of the stock is currently owned by company insiders.
Institutional Trading of Spotify Technology
A number of institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in Spotify Technology during the fourth quarter valued at $711,460,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Spotify Technology by 1,382.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,247,182 shares of the company's stock worth $724,251,000 after purchasing an additional 1,163,045 shares during the period. Coatue Management LLC grew its holdings in Spotify Technology by 35.9% during the 4th quarter. Coatue Management LLC now owns 2,450,881 shares of the company's stock valued at $1,423,251,000 after purchasing an additional 647,708 shares during the last quarter. National Pension Service purchased a new stake in Spotify Technology in the 4th quarter worth about $316,278,000. Finally, Swedbank AB lifted its stake in Spotify Technology by 37.9% in the fourth quarter. Swedbank AB now owns 1,616,321 shares of the company's stock worth $938,614,000 after purchasing an additional 444,162 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors.
Trending Headlines about Spotify Technology
Here are the key news stories impacting Spotify Technology this week:
- Positive Sentiment: Spotify surpassed 300 million Premium subscribers for the first time, while monthly active users rose 12% year over year to 777 million. The milestone reinforces the company’s scale and supports its long-term pricing, advertising and engagement opportunities. Spotify now has over 300M subscribers
- Positive Sentiment: Second-quarter revenue increased approximately 14% year over year to €4.78 billion, and Spotify swung from a year-earlier loss to roughly €545 million in net income. The company also reported record gross-margin performance, highlighting operating leverage as the business expands. Spotify tops 300 million premium subscribers as profit surges
- Positive Sentiment: Spotify expanded its planned AI-powered remix and cover product through a licensing agreement with Merlin, which represents more than 30,000 independent labels and distributors. The opt-in model is intended to provide artist credit and compensation while creating a potential new paid feature. Spotify adds Merlin to its AI music remix and covers effort
- Neutral Sentiment: Management issued a strong third-quarter revenue outlook of about €5.00 billion, with projected operating income of approximately €670 million and gross margin of 32.9%. However, the guidance also calls for 788 million monthly active users, implying slower growth than the latest quarter.
- Negative Sentiment: Second-quarter earnings per share came in below analyst expectations, and revenue was slightly under consensus. The shortfall overshadowed the subscriber milestone and raised concerns that Spotify’s higher marketing investment and spending on AI features could pressure near-term profitability. Spotify forecasts weak profit as user growth slows
- Negative Sentiment: User growth is slowing in Spotify’s key North American and European markets, while the third-quarter profit forecast fell below Wall Street expectations. That outlook, rather than subscriber totals alone, appears to be driving the negative investor reaction. Spotify Stock Falls After Music Streamer Misses Earnings Goal
About Spotify Technology
(
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Spotify Technology is a digital audio streaming company best known for its on-demand music service and a growing portfolio of spoken-word content. Founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon and launched commercially in 2008, the company offers a cross-platform app that enables users to discover, stream and organize music, podcasts and other audio. Its primary consumer products include a free, ad-supported tier and a paid Spotify Premium subscription that provides ad-free listening, offline playback and higher-quality audio streams.
Further Reading
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