Guggenheim Cuts Spotify Technology (NYSE:SPOT) Price Target to $800.00

Spotify Technology (NYSE:SPOT) had its target price decreased by Guggenheim from $850.00 to $800.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Guggenheim currently has a buy rating on the stock.

SPOT has been the subject of a number of other reports. KeyCorp reduced their price objective on shares of Spotify Technology from $860.00 to $830.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Spotify Technology in a report on Wednesday, October 8th. DZ Bank raised shares of Spotify Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Oppenheimer boosted their target price on Spotify Technology from $750.00 to $825.00 and gave the stock an “outperform” rating in a research report on Monday, August 18th. Finally, Morgan Stanley lowered their price target on Spotify Technology from $850.00 to $800.00 and set an “overweight” rating on the stock 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 MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $729.94.

Spotify Technology Trading Down 0.2%

Shares of NYSE:SPOT traded down $1.04 during mid-day trading on Wednesday, reaching $617.16. The company had a trading volume of 1,842,830 shares, compared to its average volume of 1,775,166. The firm has a market cap of $127.07 billion, a price-to-earnings ratio of 97.04, a PEG ratio of 2.49 and a beta of 1.67. The company’s 50-day moving average price is $685.11 and its 200-day moving average price is $682.31. Spotify Technology has a one year low of $397.33 and a one year high of $785.00.

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

Hedge Funds Weigh In On Spotify Technology

Large investors have recently modified their holdings of the company. Knuff & Co LLC bought a new stake in shares of Spotify Technology in the 2nd quarter worth approximately $27,000. Heartwood Wealth Advisors LLC bought a new position in shares of Spotify Technology during the 3rd quarter valued at $27,000. Greykasell Wealth Strategies Inc. raised its position in Spotify Technology by 3,800.0% in the 3rd quarter. Greykasell Wealth Strategies Inc. now owns 39 shares of the company’s stock worth $27,000 after purchasing an additional 38 shares during the period. Cornerstone Planning Group LLC raised its position in Spotify Technology by 512.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 49 shares of the company’s stock worth $29,000 after purchasing an additional 41 shares during the period. Finally, Total Investment Management Inc. bought a new stake in Spotify Technology in the second quarter worth $29,000. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Company Profile

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.