Spotify Technology’s (SPOT) Market Outperform Rating Reaffirmed at Citizens Jmp

Spotify Technology (NYSE:SPOT)‘s stock had its “market outperform” rating restated by equities researchers at Citizens Jmp in a report issued on Friday, Benzinga reports. They currently have a $625.00 price objective on the stock. Citizens Jmp‘s price objective suggests a potential upside of 9.13% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Rosenblatt Securities restated a “neutral” rating and issued a $527.00 price objective on shares of Spotify Technology in a research note on Tuesday, October 20th. Stonex Financia cut shares of Spotify Technology from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 14th. Wall Street Zen lowered shares of Spotify Technology from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. UBS Group cut their price target on shares of Spotify Technology from $690.00 to $675.00 and set a “buy” rating for the company in a research note on Monday, October 5th. Finally, Benchmark decreased their price objective on Spotify Technology from $695.00 to $650.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Spotify Technology presently has an average rating of “Moderate Buy” and an average target price of $620.07.

Spotify Technology Stock Performance

Shares of NYSE:SPOT traded down $11.53 during trading on Friday, hitting $572.69. 1,927,909 shares of the stock were exchanged, compared to its average volume of 2,204,229. The company has a market capitalization of $117.90 billion, a price-to-earnings ratio of 37.97, a price-to-earnings-growth ratio of 1.81 and a beta of 1.61. Spotify Technology has a 1-year low of $405.00 and a 1-year high of $673.16. The company’s fifty day simple moving average is $526.03 and its 200-day simple moving average is $497.95.

Spotify Technology (NYSE:SPOT) last issued its earnings results on Thursday, October 22nd. The company reported $2.81 EPS for the quarter, missing the consensus estimate of $3.18 by ($0.37). Spotify Technology had a return on equity of 35.64% and a net margin of 15.74%. The firm had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.64 billion. During the same period last year, the business earned $3.28 earnings per share. The firm’s revenue for the quarter was up 16.3% compared to the same quarter last year. On average, research analysts forecast that Spotify Technology will post 13.62 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Alex Norström sold 5,436 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $502.10, for a total value of $2,729,415.60. Following the sale, the chief executive officer owned 66,773 shares of the company’s stock, valued at approximately $33,526,723.30. This represents a 7.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Gustav Söderström sold 20,910 shares of the stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $530.13, for a total transaction of $11,085,018.30. Following the sale, the chief executive officer owned 19,908 shares of the company’s stock, valued at $10,553,828.04. This trade represents a 51.23% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 68,092 shares of company stock worth $35,762,410. 0.40% of the stock is owned by insiders.

Institutional Trading of Spotify Technology

Hedge funds have recently modified their holdings of the company. Cantillon Capital Management LLC bought a new position in shares of Spotify Technology in the first quarter valued at approximately $213,047,000. Southpoint Capital Advisors LP bought a new stake in Spotify Technology during the 1st quarter worth approximately $193,964,000. Principal Financial Group Inc. grew its position in Spotify Technology by 53.4% during the 1st quarter. Principal Financial Group Inc. now owns 989,667 shares of the company’s stock worth $479,899,000 after acquiring an additional 344,471 shares during the last quarter. Tiger Global Management LLC grew its position in Spotify Technology by 25.3% during the 1st quarter. Tiger Global Management LLC now owns 1,580,761 shares of the company’s stock worth $766,527,000 after acquiring an additional 319,300 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in Spotify Technology by 20.1% during the 1st quarter. Janus Henderson Group PLC now owns 1,711,015 shares of the company’s stock valued at $829,641,000 after purchasing an additional 286,844 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Key Stories Impacting Spotify Technology

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

• Positive Sentiment: Jefferies raised its price target for Spotify to $620 from $600 and described the platform as “highly defensible” against artificial-intelligence competition. Several other firms, including JPMorgan, Morgan Stanley, Guggenheim, Barclays, Wells Fargo, Cantor Fitzgerald, Oppenheimer and Citizens JMP, also maintained bullish views or raised their targets. Jefferies Spotify analysis
• Positive Sentiment: Spotify’s latest quarter showed double-digit revenue growth and significant gains in users and subscribers. Management expects continued momentum in the current quarter, with guidance calling for roughly €5.2 billion in revenue and 10% user growth. Spotify earnings growth analysis
• Neutral Sentiment: Spotify retains a strong competitive position through its scale, market share and exclusive content, but investors are monitoring potential bundling pressure from Apple and YouTube Music. Piper Sandler reaffirmed a Neutral rating, highlighting a more balanced risk-reward profile. Spotify earnings and competitive outlook
• Negative Sentiment: Spotify’s quarterly results fell short of expectations, with adjusted earnings and revenue missing analyst forecasts. The company’s reported EPS of $2.81 was below the $3.18 consensus, while revenue of $5.63 billion was slightly under the $5.64 billion estimate. Spotify earnings miss
• Negative Sentiment: Engagement concerns at Netflix have spread across streaming and media stocks, weighing on Spotify despite its company-specific growth drivers. This broader risk-off move suggests investors are scrutinizing the sustainability of streaming usage and monetization. Streaming-sector selloff

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.