Spotify Technology (NYSE:SPOT) Stock Rating Upgraded by Phillip Securities

Spotify Technology (NYSE:SPOT) was upgraded by analysts at Phillip Securities from a “hold” rating to a “moderate buy” rating in a report issued on Monday,Zacks.com reports.

A number of other research analysts have also issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Spotify Technology from $740.00 to $750.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. UBS Group cut their target price on Spotify Technology from $895.00 to $850.00 and set a “buy” rating on the stock in a report on Wednesday, July 30th. Barclays decreased their price target on Spotify Technology from $750.00 to $700.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Cantor Fitzgerald increased their target price on shares of Spotify Technology from $640.00 to $675.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Finally, Oppenheimer upped their price objective on shares of Spotify Technology from $750.00 to $825.00 and gave the company an “outperform” rating in a research note on Monday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $729.94.

Spotify Technology Stock Performance

Shares of NYSE:SPOT traded up $0.41 on Monday, hitting $639.99. The stock had a trading volume of 340,767 shares, compared to its average volume of 2,097,923. The company has a market capitalization of $131.77 billion, a price-to-earnings ratio of 100.63, a price-to-earnings-growth ratio of 2.06 and a beta of 1.67. Spotify Technology has a twelve month low of $443.21 and a twelve month high of $785.00. The firm’s 50 day moving average price is $682.87 and its 200-day moving average price is $683.83.

Spotify Technology (NYSE:SPOT) last announced its earnings results on Tuesday, November 4th. The company reported $3.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $1.96. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.23 billion. Spotify Technology had a net margin of 8.46% and a return on equity of 21.68%. Spotify Technology’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.45 earnings per share. Spotify Technology has set its Q4 2025 guidance at EPS. As a group, sell-side analysts predict that Spotify Technology will post 10.3 EPS for the current year.

Institutional Trading of Spotify Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its stake in shares of Spotify Technology by 1,151.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company’s stock valued at $957,494,000 after purchasing an additional 1,601,653 shares during the period. Jennison Associates LLC grew its position in Spotify Technology by 42.3% in the 1st 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 purchased a new stake in Spotify Technology during the 2nd quarter valued at $768,915,000. Nuveen LLC purchased a new position in shares of Spotify Technology in the 1st quarter worth $383,139,000. Finally, Principal Financial Group Inc. increased its position in Spotify Technology by 3,534.9% during the third quarter. Principal Financial Group Inc. now owns 571,474 shares of the company’s stock valued at $398,889,000 after acquiring an additional 555,752 shares during the last quarter. Institutional investors 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.