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

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 price objective increased by Oppenheimer from $750.00 to $825.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

SPOT has been the topic of a number of other research reports. UBS Group decreased their price objective on shares of Spotify Technology from $895.00 to $850.00 and set a "buy" rating on the stock in a report on Wednesday, July 30th. Rosenblatt Securities decreased their price objective on shares of Spotify Technology from $703.00 to $679.00 and set a "neutral" rating on the stock in a report on Wednesday, July 30th. Evercore ISI boosted their price objective on shares of Spotify Technology from $650.00 to $750.00 and gave the stock an "outperform" rating in a report on Monday, June 16th. Guggenheim boosted their price objective on shares of Spotify Technology from $800.00 to $850.00 and gave the stock a "buy" rating in a report on Monday, August 18th. Finally, KeyCorp cut their target price on shares of Spotify Technology from $860.00 to $830.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. Twenty investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $720.07.

Spotify Technology Stock Performance

SPOT stock traded up $3.2080 during trading on Monday, reaching $692.6780. 935,624 shares of the company were exchanged, compared to its average volume of 2,736,379. The company has a market cap of $141.80 billion, a P/E ratio of 168.13, a PEG ratio of 2.97 and a beta of 1.69. Spotify Technology has a 52-week low of $319.07 and a 52-week high of $785.00. The stock's 50 day moving average price is $703.72 and its 200 day moving average price is $641.55.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported ($0.42) EPS 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 quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.33 EPS. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, equities research analysts forecast that Spotify Technology will post 10.3 EPS for the current year.

Hedge Funds Weigh In On Spotify Technology

A number of institutional investors have recently modified their holdings of SPOT. Mpwm Advisory Solutions LLC acquired a new position in shares of Spotify Technology in the fourth quarter valued at approximately $26,000. Knuff & Co LLC acquired a new position in shares of Spotify Technology in the second quarter valued at approximately $27,000. Tsfg LLC acquired a new position in shares of Spotify Technology in the first quarter valued at approximately $28,000. Copia Wealth Management acquired a new position in shares of Spotify Technology in the fourth quarter valued at approximately $29,000. Finally, Cornerstone Planning Group LLC raised its position in shares of Spotify Technology by 512.5% in the first quarter. Cornerstone Planning Group LLC now owns 49 shares of the company's stock valued at $29,000 after buying an additional 41 shares during the last quarter. Institutional investors and hedge funds 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.