Rosenblatt Securities Reaffirms “Neutral” Rating for Spotify Technology (NYSE:SPOT)

Spotify Technology (NYSE:SPOT)‘s stock had its “neutral” rating restated by equities researchers at Rosenblatt Securities in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $527.00 price target on the stock. Rosenblatt Securities’ price objective would suggest a potential downside of 1.24% from the stock’s previous close.

Several other research firms also recently issued reports on SPOT. Piper Sandler initiated coverage on shares of Spotify Technology in a report on Thursday, October 8th. They set a “neutral” rating and a $540.00 price objective for the company. Stonex Financia downgraded shares of Spotify Technology from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 14th. Phillip Securities raised shares of Spotify Technology to a “buy” rating and set a $650.00 price objective for the company in a report on Tuesday, August 11th. Wells Fargo & Company decreased their price objective on shares of Spotify Technology from $600.00 to $570.00 and set an “overweight” rating for the company in a report on Thursday, July 9th. Finally, Weiss Ratings raised shares of Spotify Technology from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $610.25.

Spotify Technology Trading Up 2.9%

NYSE SPOT traded up $14.83 during trading on Tuesday, hitting $533.59. 197,376 shares of the company traded hands, compared to its average volume of 2,183,899. Spotify Technology has a 12 month low of $405.00 and a 12 month high of $696.95. The business has a fifty day simple moving average of $522.30 and a 200 day simple moving average of $495.97. The company has a market capitalization of $109.86 billion, a P/E ratio of 33.18, a PEG ratio of 1.63 and a beta of 1.61.

Spotify Technology (NYSE:SPOT) last posted its earnings results on Tuesday, August 4th. The company reported $3.03 earnings per share for the quarter, missing the consensus estimate of $3.16 by ($0.13). Spotify Technology had a net margin of 18.44% and a return on equity of 41.39%. The company had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.47 billion. During the same quarter last year, the business earned ($0.42) earnings per share. Spotify Technology’s quarterly revenue was up 13.9% on a year-over-year basis. Equities research analysts predict that Spotify Technology will post 13.77 EPS for the current fiscal year.

Insider Activity at Spotify Technology

In other Spotify Technology news, CEO Gustav Söderström sold 20,913 shares of Spotify Technology stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $544.19, for a total value of $11,380,645.47. Following the transaction, the chief executive officer directly owned 20,025 shares of the company’s stock, valued at $10,897,404.75. The trade was a 51.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Alex Norström sold 5,436 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $502.10, for a total transaction of $2,729,415.60. Following the completion of the sale, the chief executive officer owned 66,773 shares of the company’s stock, valued at approximately $33,526,723.30. The trade was a 7.53% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 68,092 shares of company stock worth $35,762,410. Company insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Janus Henderson Group PLC increased its holdings in Spotify Technology by 20.1% in the 1st quarter. Janus Henderson Group PLC now owns 1,711,015 shares of the company’s stock valued at $829,641,000 after buying an additional 286,844 shares during the period. Tiger Global Management LLC increased its holdings in Spotify Technology by 25.3% in the 1st quarter. Tiger Global Management LLC now owns 1,580,761 shares of the company’s stock valued at $766,527,000 after buying an additional 319,300 shares during the period. Amundi increased its holdings in Spotify Technology by 20.0% in the 1st quarter. Amundi now owns 1,104,484 shares of the company’s stock valued at $535,575,000 after buying an additional 183,994 shares during the period. Principal Financial Group Inc. increased its holdings in Spotify Technology by 53.4% in the 1st quarter. Principal Financial Group Inc. now owns 989,667 shares of the company’s stock valued at $479,899,000 after buying an additional 344,471 shares during the period. Finally, Sei Investments Co. increased its holdings in Spotify Technology by 1.8% in the 1st quarter. Sei Investments Co. now owns 749,495 shares of the company’s stock valued at $363,415,000 after buying an additional 13,381 shares during the period. 84.09% of the stock is currently owned by institutional investors and hedge funds.

More Spotify Technology News

Here are the key news stories impacting Spotify Technology this week:

• Positive Sentiment: Paid podcast memberships: Spotify launched a program allowing podcasters to offer paid perks such as bonus audio or video, fewer advertisements and early access. The initiative could diversify revenue, improve creator retention and increase engagement beyond traditional subscriptions. Spotify launches paid podcast memberships with perks beyond bonus content
• Positive Sentiment: Rogan renewal and buybacks: Spotify renewed its multiyear licensing agreement with Joe Rogan, preserving a major audience draw, and increased its share-repurchase authorization by approximately $1.5 billion to about $2.22 billion. Buybacks may support per-share results, although the agreement adds content costs. Does Rogan Renewal Change the Bull Case for Spotify Stock
• Neutral Sentiment: Rosenblatt maintains a neutral rating: Rosenblatt Securities reaffirmed its “neutral” view and set a $527 price target, implying only modest upside from the referenced $519.17 price. The call suggests limited near-term conviction before earnings.
• Neutral Sentiment: Q3 expectations in focus: Analysts are watching for approximately 788 million monthly active users, 305 million Premium subscribers and roughly €5.0 billion in revenue. These metrics could drive the next significant move if Spotify exceeds or misses expectations. Spotify Q3 earnings key metrics
• Negative Sentiment: StoneX downgrade: StoneX reportedly cut Spotify from “buy” to “hold,” adding pressure to the stock’s near-term outlook and signaling concerns about valuation, execution or the balance between content investment and profitability. StoneX downgrades Spotify to hold

Spotify Technology Company Profile

Spotify Technology SA is an audio streaming company that operates the Spotify platform, offering users access to music, podcasts and audiobooks through internet-connected devices. Its catalog includes licensed recordings from music labels and artists, as well as podcasts and other audio content from creators and publishers.

Spotify provides both an ad-supported service and subscription-based Premium plans. Premium subscribers generally receive ad-free listening and additional features, while the advertising-supported service allows users to access content without a paid subscription.