Spotify Technology (NYSE:SPOT) Price Target Raised to $675.00

Spotify Technology (NYSE:SPOT) had its target price increased by research analysts at Cantor Fitzgerald from $640.00 to $675.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 5.14% from the company’s current price.

Several other analysts also recently commented on SPOT. Wells Fargo & Company raised their price objective on Spotify Technology from $740.00 to $750.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft boosted their price target on Spotify Technology from $700.00 to $775.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Sanford C. Bernstein boosted their price target on Spotify Technology from $825.00 to $840.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. DZ Bank upgraded Spotify Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Finally, KeyCorp cut their price target on Spotify Technology from $860.00 to $830.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $731.50.

Spotify Technology Stock Up 2.0%

Spotify Technology stock traded up $12.39 during mid-day trading on Wednesday, hitting $641.99. 640,775 shares of the company’s stock were exchanged, compared to its average volume of 2,107,595. The firm has a market capitalization of $131.42 billion, a P/E ratio of 156.14, a PEG ratio of 3.39 and a beta of 1.67. Spotify Technology has a fifty-two week low of $376.04 and a fifty-two week high of $785.00. The company’s 50 day simple moving average is $689.26 and its 200-day simple moving average is $682.79.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $3.83 EPS for the quarter, topping the consensus estimate of $1.87 by $1.96. The business had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.23 billion. Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%.The firm’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.45 EPS. Spotify Technology has set its Q4 2025 guidance at EPS. Research analysts expect 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 bought and sold shares of the business. State Street Corp increased its position in Spotify Technology by 1.7% during the second quarter. State Street Corp now owns 4,574,228 shares of the company’s stock worth $3,509,988,000 after buying an additional 74,256 shares during the last quarter. 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 acquiring an additional 1,262,614 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Spotify Technology by 3.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,526,988 shares of the company’s stock worth $1,939,949,000 after acquiring an additional 112,553 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Spotify Technology by 22.7% during the second quarter. Fisher Asset Management LLC now owns 2,489,013 shares of the company’s stock worth $1,909,920,000 after acquiring an additional 460,115 shares during the period. Finally, 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 acquiring an additional 1,601,653 shares during the period. 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.