Cantor Fitzgerald Issues Positive Forecast for Spotify Technology (NYSE:SPOT) Stock Price

Spotify Technology (NYSE:SPOT) had its target price lifted by Cantor Fitzgerald from $640.00 to $675.00 in a research note released on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

Other equities research analysts have also recently issued reports about the stock. UBS Group dropped their price target on shares of Spotify Technology from $895.00 to $850.00 and set a “buy” rating on the stock in a research report on Wednesday, July 30th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Spotify Technology in a research report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price objective on Spotify Technology from $740.00 to $805.00 and gave the stock an “overweight” rating in a report on Monday, September 29th. Wells Fargo & Company boosted their price objective on Spotify Technology from $740.00 to $750.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Finally, Argus initiated coverage on Spotify Technology in a report on Monday, September 29th. They set a “buy” rating and a $845.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $729.94.

Spotify Technology Trading Down 1.5%

Shares of Spotify Technology stock opened at $620.37 on Wednesday. The company’s 50-day moving average price is $687.82 and its two-hundred day moving average price is $682.35. Spotify Technology has a 52 week low of $376.04 and a 52 week high of $785.00. The stock has a market cap of $127.00 billion, a PE ratio of 97.54, a price-to-earnings-growth ratio of 3.32 and a beta of 1.67.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $3.83 EPS for the quarter, topping the consensus estimate of $1.87 by $1.96. Spotify Technology had a net margin of 8.46% and a return on equity of 23.62%. The firm had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.23 billion. During the same period in the previous year, the business earned $1.45 earnings per share. Spotify Technology’s revenue for the quarter was up 7.1% compared to the same quarter last year. Spotify Technology has set its Q4 2025 guidance at EPS. On average, equities analysts predict that Spotify Technology will post 10.3 EPS for the current fiscal year.

Institutional Trading of Spotify Technology

Hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its holdings in shares of Spotify Technology by 1,151.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company’s stock worth $957,494,000 after purchasing an additional 1,601,653 shares during the period. Jennison Associates LLC boosted its holdings in shares of Spotify Technology by 42.3% during the first quarter. Jennison Associates LLC now owns 4,247,940 shares of the company’s stock worth $2,336,494,000 after purchasing an additional 1,262,614 shares during the period. Norges Bank acquired a new stake in shares of Spotify Technology during the second quarter worth approximately $768,915,000. Nuveen LLC acquired a new stake in shares of Spotify Technology during the first quarter worth approximately $383,139,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of Spotify Technology by 3,534.9% during the third quarter. Principal Financial Group Inc. now owns 571,474 shares of the company’s stock worth $398,889,000 after purchasing an additional 555,752 shares during the period. 84.09% of the stock is owned by hedge funds and other institutional investors.

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.