Spotify Technology (NYSE:SPOT) Price Target Raised to $825.00

Key Points

• Oppenheimer has raised its target price for Spotify Technology (NYSE:SPOT) from $750.00 to $825.00, indicating a potential upside of 13.14% from its previous close.
• Spotify's quarterly revenue rose by 10.1% year-over-year, reporting $4.94 billion, although it missed the earnings per share consensus estimate significantly.
• The stock currently has an average rating of "Moderate Buy", with a consensus target price of $720.07, indicating strong analyst support despite recent fluctuations.

Spotify Technology (NYSE:SPOT - Free Report) had its target price increased by Oppenheimer from $750.00 to $825.00 in a report released on Monday,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

A number of other research analysts also recently commented on SPOT. Guggenheim increased their target price on Spotify Technology from $800.00 to $850.00 and gave the stock a "buy" rating in a report on Monday. Robert W. Baird increased their target price on Spotify Technology from $700.00 to $730.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Pivotal Research increased their target price on Spotify Technology from $800.00 to $900.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. Bank of America increased their target price on Spotify Technology from $700.00 to $900.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. Finally, Macquarie increased their target price on Spotify Technology from $600.00 to $665.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Twenty equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, Spotify Technology currently has a consensus rating of "Moderate Buy" and an average target price of $720.07.

Spotify Technology Trading Down 2.0%

NYSE SPOT traded down $13.7850 during mid-day trading on Monday, reaching $690.0050. 337,673 shares of the company's stock traded hands, compared to its average volume of 2,300,795. Spotify Technology has a 1-year low of $319.07 and a 1-year high of $785.00. The company has a fifty day simple moving average of $704.31 and a 200-day simple moving average of $640.09. The company has a market cap of $141.25 billion, a price-to-earnings ratio of 167.61, a P/E/G ratio of 3.09 and a beta of 1.69.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported ($0.42) EPS for the quarter, missing analysts' consensus estimates of $2.00 by ($2.42). Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%.The firm had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same period in the prior year, the business earned $1.33 EPS. The company's quarterly revenue was up 10.1% on a year-over-year basis. Spotify Technology has set its Q3 2025 guidance at EPS. Equities research analysts forecast that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Institutional Trading of Spotify Technology

Hedge funds have recently made changes to their positions in the stock. B. Riley Wealth Advisors Inc. bought a new stake in Spotify Technology during the 2nd quarter valued at $1,156,000. Newbridge Financial Services Group Inc. raised its stake in Spotify Technology by 100.0% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,600 shares of the company's stock valued at $1,228,000 after acquiring an additional 800 shares in the last quarter. Advisory Services Network LLC raised its stake in Spotify Technology by 3.5% during the 2nd quarter. Advisory Services Network LLC now owns 7,344 shares of the company's stock valued at $5,635,000 after acquiring an additional 249 shares in the last quarter. Cim LLC raised its stake in Spotify Technology by 69.2% during the 2nd quarter. Cim LLC now owns 37,814 shares of the company's stock valued at $29,016,000 after acquiring an additional 15,461 shares in the last quarter. Finally, Hudson Bay Capital Management LP raised its stake in Spotify Technology by 188.2% during the 2nd quarter. Hudson Bay Capital Management LP now owns 20,571 shares of the company's stock valued at $15,785,000 after acquiring an additional 13,433 shares in the last quarter. Institutional investors own 84.09% of the company's stock.

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.