Spotify Technology (NYSE:SPOT) Price Target Raised to $860.00

Spotify Technology (NYSE:SPOT) had its target price increased by Benchmark from $800.00 to $860.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also issued reports on the stock. BNP Paribas Exane initiated coverage on shares of Spotify Technology in a report on Tuesday, September 16th. They issued an “outperform” rating and a $900.00 price target for the company. UBS Group decreased their price objective on Spotify Technology from $895.00 to $850.00 and set a “buy” rating for the company in a research report on Wednesday, July 30th. DZ Bank raised shares of Spotify Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Argus initiated coverage on Spotify Technology in a report on Monday, September 29th. They issued a “buy” rating and a $845.00 price target on the stock. Finally, Barclays decreased their price objective on Spotify Technology from $800.00 to $750.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. Two 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 company’s stock. According to data from MarketBeat.com, Spotify Technology presently has an average rating of “Moderate Buy” and an average price target of $729.94.

Spotify Technology Price Performance

Shares of SPOT stock traded down $1.04 during trading hours on Wednesday, hitting $617.16. 1,842,830 shares of the company’s stock were exchanged, compared to its average volume of 1,775,166. The stock’s 50-day moving average is $685.11 and its 200-day moving average is $682.31. Spotify Technology has a 52 week low of $397.33 and a 52 week high of $785.00. The stock has a market cap of $127.07 billion, a price-to-earnings ratio of 97.04, a price-to-earnings-growth ratio of 2.49 and a beta of 1.67.

Spotify Technology (NYSE:SPOT) last issued its earnings results on Tuesday, November 4th. The company reported $3.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $1.96. Spotify Technology had a net margin of 8.46% and a return on equity of 21.68%. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.23 billion. During the same quarter last year, the firm earned $1.45 EPS. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. Spotify Technology has set its Q4 2025 guidance at EPS. Equities research analysts forecast that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Spotify Technology

Hedge funds have recently added to or reduced their stakes in the business. Sapient Capital LLC bought a new position in shares of Spotify Technology in the 2nd quarter valued at $322,000. Swedbank AB lifted its stake in Spotify Technology by 1.4% in the 1st quarter. Swedbank AB now owns 959,587 shares of the company’s stock valued at $527,802,000 after purchasing an additional 13,458 shares during the last quarter. Legacy Capital Group California Inc. boosted its position in Spotify Technology by 110.9% in the second quarter. Legacy Capital Group California Inc. now owns 3,896 shares of the company’s stock valued at $2,990,000 after buying an additional 2,049 shares in the last quarter. Harbor Investment Advisory LLC boosted its position in Spotify Technology by 36.0% in the second quarter. Harbor Investment Advisory LLC now owns 2,054 shares of the company’s stock valued at $1,576,000 after buying an additional 544 shares in the last quarter. Finally, Annex Advisory Services LLC lifted its stake in shares of Spotify Technology by 56.9% in the 2nd quarter. Annex Advisory Services LLC now owns 53,984 shares of the company’s stock valued at $41,424,000 after acquiring an additional 19,577 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.