Spotify Technology (NYSE:SPOT) Price Target Lowered to $600.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan cut its price target on Spotify from $700 to $600 but kept an "overweight" rating, implying roughly a 35% upside from the prior close.
• Spotify beat Q1 estimates (EPS $5.16, revenue $5.32B) but issued weak Q2 guidance and faces ad‑revenue softness, triggering a post‑earnings selloff and multiple price‑target cuts.
• Despite cuts, the Street remains broadly positive with a consensus rating of Moderate Buy and an average price target near $647.68, while institutional investors own about 84% of the stock.

Spotify Technology (NYSE:SPOT - Get Free Report) had its price objective decreased by equities researchers at JPMorgan Chase & Co. from $700.00 to $600.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 34.99% from the stock's previous close.

Other equities research analysts have also issued research reports about the stock. Sanford C. Bernstein decreased their price target on shares of Spotify Technology from $830.00 to $650.00 and set an "outperform" rating for the company in a research note on Wednesday, January 14th. Weiss Ratings lowered shares of Spotify Technology from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, February 26th. Guggenheim decreased their price target on shares of Spotify Technology from $600.00 to $565.00 and set a "buy" rating for the company in a research note on Wednesday. Morgan Stanley assumed coverage on shares of Spotify Technology in a research note on Monday, April 13th. They set an "overweight" rating and a $630.00 price target for the company. Finally, Wells Fargo & Company decreased their price target on shares of Spotify Technology from $640.00 to $580.00 and set an "overweight" rating for the company in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $647.68.

Spotify Technology Trading Up 2.4%

Shares of SPOT stock traded up $10.29 during trading hours on Wednesday, hitting $444.49. 3,555,090 shares of the company were exchanged, compared to its average volume of 2,699,876. The firm has a fifty day simple moving average of $501.23 and a 200 day simple moving average of $548.45. Spotify Technology has a 52-week low of $405.00 and a 52-week high of $785.00. The stock has a market capitalization of $91.51 billion, a price-to-earnings ratio of 46.11, a P/E/G ratio of 1.08 and a beta of 1.70.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.16 by $2.00. Spotify Technology had a net margin of 13.16% and a return on equity of 31.35%. The company had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same quarter last year, the business posted $1.88 EPS. Spotify Technology's quarterly revenue was up 6.8% compared to the same quarter last year. Sell-side analysts anticipate that Spotify Technology will post 15.73 EPS for the current year.

Insider Buying and Selling at Spotify Technology

In other Spotify Technology news, CEO Alex Norstrom sold 5,436 shares of the firm's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $479.51, for a total value of $2,606,616.36. Following the completion of the transaction, the chief executive officer directly owned 69,989 shares of the company's stock, valued at $33,560,425.39. This trade represents a 7.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Gustav Soderstrom sold 20,833 shares of the firm's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $473.52, for a total transaction of $9,864,842.16. Following the completion of the transaction, the chief executive officer directly owned 20,609 shares of the company's stock, valued at approximately $9,758,773.68. The trade was a 50.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SPOT. Helios Capital Management PTE. Ltd. lifted its holdings in shares of Spotify Technology by 56.3% during the 3rd quarter. Helios Capital Management PTE. Ltd. now owns 7,500 shares of the company's stock worth $5,235,000 after acquiring an additional 2,700 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of Spotify Technology by 35.1% during the 3rd quarter. Bessemer Group Inc. now owns 682,639 shares of the company's stock worth $476,483,000 after acquiring an additional 177,310 shares during the last quarter. Truxt Investmentos Ltda. bought a new stake in shares of Spotify Technology during the 3rd quarter worth $2,093,000. Ownership Capital B.V. bought a new stake in Spotify Technology in the third quarter worth $2,769,000. Finally, Vanguard Group Inc. lifted its stake in Spotify Technology by 2.5% in the third quarter. Vanguard Group Inc. now owns 1,005,882 shares of the company's stock worth $702,106,000 after purchasing an additional 24,199 shares during the last quarter. 84.09% of the stock is owned by institutional investors.

Key Spotify Technology News

Here are the key news stories impacting Spotify Technology this week:

• Positive Sentiment: Q1 results beat expectations — revenue and EPS came in ahead of consensus, and Spotify reported healthy MAU/subscriber trends that underpin longer‑term growth assumptions. BusinessWire: Q1 Results
• Positive Sentiment: Product/partnership progress: Spotify is pushing into fitness content (Peloton tie‑up and curated fitness hub), which helps diversify engagement and monetization beyond music. Bloomberg: Peloton Partnership
• Positive Sentiment: Institutional interest and analyst support remain — several firms reaffirmed buy/overweight ratings even while cutting targets, leaving meaningful upside in many models (e.g., Goldman Sachs, Wells Fargo, KeyCorp still at buy/overweight). That creates a base for bargain‑hunting after the post‑earnings selloff. Benzinga: Analyst Updates
• Neutral Sentiment: Street model tweaks: Erste raised FY2026/2027 EPS estimates modestly, which supports an improved earnings trajectory but contrasts with near‑term guidance weakness. MarketBeat: Analyst Estimate Changes
• Negative Sentiment: Weak Q2 guidance — Spotify forecast Q2 operating income and premium subscriber additions below many analysts’ expectations, which triggered the sharp post‑earnings selloff and remains the dominant bear case for near‑term multiples. Reuters: Q2 Guidance Miss
• Negative Sentiment: Ad‑revenue softness and subscriber concerns — coverage highlights slowing ad growth and questions about whether recent price increases will sustain premium additions, pressuring near‑term top‑line momentum. TheStreet: Ad/Subscriber Concerns
• Negative Sentiment: Multiple price‑target cuts — several firms trimmed targets (Cantor Fitzgerald, Barclays, Guggenheim, Rosenblatt, Pivotal, others). While many ratings remain positive, the broad cut in targets reflects elevated uncertainty about near‑term margins and ad recovery. Benzinga: PT Cuts

About Spotify Technology

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.

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