Spotify Technology (NYSE:SPOT) Stock Keeps “Market Outperform” Rating at Citizens Jmp

Spotify Technology (NYSE:SPOT)‘s stock had its “market outperform” rating reaffirmed by Citizens Jmp in a note issued to investors on Friday, Benzinga reports. They currently have a $625.00 price objective on the stock. Citizens Jmp‘s target price points to a potential upside of 8.50% from the company’s current price.

SPOT has been the topic of a number of other research reports. Piper Sandler began coverage on shares of Spotify Technology in a research report on Thursday, October 8th. They set a “neutral” rating and a $540.00 target price on the stock. Benchmark dropped their target price on shares of Spotify Technology from $695.00 to $650.00 and set a “buy” rating on the stock in a research report on Wednesday, July 22nd. Argus reaffirmed a “buy” rating and set a $600.00 target price on shares of Spotify Technology in a research report on Thursday, August 13th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $527.00 target price on shares of Spotify Technology in a research report on Tuesday, October 20th. Finally, Stonex Financia cut Spotify Technology from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $620.07.

Spotify Technology Stock Performance

Shares of Spotify Technology stock traded down $8.17 on Friday, reaching $576.05. The stock had a trading volume of 1,298,109 shares, compared to its average volume of 2,200,888. The business’s 50-day moving average price is $526.60 and its two-hundred day moving average price is $497.97. Spotify Technology has a fifty-two week low of $405.00 and a fifty-two week high of $673.16. The stock has a market cap of $118.60 billion, a P/E ratio of 38.11, a price-to-earnings-growth ratio of 1.81 and a beta of 1.61.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data on Thursday, October 22nd. The company reported $2.81 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $5.64 billion. During the same quarter in the previous year, the firm posted $3.28 earnings per share. Spotify Technology’s quarterly revenue was up 16.3% compared to the same quarter last year. As a group, equities analysts forecast that Spotify Technology will post 13.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Spotify Technology

In other news, CEO Gustav Söderström sold 20,910 shares of the company’s stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $530.13, for a total value of $11,085,018.30. Following the sale, the chief executive officer owned 19,908 shares of the company’s stock, valued at approximately $10,553,828.04. This represents a 51.23% 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 Alex Norström sold 5,436 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was 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 directly owned 66,773 shares in the company, 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. Insiders sold a total of 68,092 shares of company stock worth $35,762,410 in the last three months. Insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Spotify Technology

Several large investors have recently made changes to their positions in the company. Janus Henderson Group PLC grew its holdings in shares of Spotify Technology by 20.1% in the 1st quarter. Janus Henderson Group PLC now owns 1,711,015 shares of the company’s stock worth $829,641,000 after purchasing an additional 286,844 shares during the last quarter. Tiger Global Management LLC grew its holdings in shares of Spotify Technology by 25.3% in the 1st quarter. Tiger Global Management LLC now owns 1,580,761 shares of the company’s stock worth $766,527,000 after purchasing an additional 319,300 shares during the last quarter. Amundi grew its holdings in shares of Spotify Technology by 20.0% in the 1st quarter. Amundi now owns 1,104,484 shares of the company’s stock worth $535,575,000 after purchasing an additional 183,994 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Spotify Technology by 53.4% in the 1st quarter. Principal Financial Group Inc. now owns 989,667 shares of the company’s stock worth $479,899,000 after purchasing an additional 344,471 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Spotify Technology by 1.8% in the 1st quarter. Sei Investments Co. now owns 749,495 shares of the company’s stock worth $363,415,000 after purchasing an additional 13,381 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Key Spotify Technology News

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

• Positive Sentiment: Jefferies raised its price target to $620 from $600 and described Spotify as “highly defensible” against artificial-intelligence competitors, supporting the company’s long-term competitive position. Jefferies Spotify analysis
• Positive Sentiment: Spotify reported double-digit growth and significant gains in users. Management expects continued momentum in the current quarter, including roughly 10% user growth, which supports the long-term growth narrative. Spotify latest earnings analysis
• Positive Sentiment: Several firms, including JPMorgan, Barclays, Wells Fargo, Morgan Stanley, Guggenheim, Cantor Fitzgerald and Citizens JMP, maintained bullish views or forecast meaningful appreciation. Oppenheimer also increased its price target. Cantor Fitzgerald Spotify forecast
• Neutral Sentiment: Piper Sandler reaffirmed its “Neutral” rating, highlighting that Wall Street remains divided on how much of Spotify’s growth is already reflected in the valuation. Piper Sandler Spotify rating
• Negative Sentiment: Spotify’s latest earnings report missed analyst expectations for adjusted EPS and revenue, despite strong subscriber growth. Investors are also monitoring bundling pressure from Apple and YouTube Music. Spotify earnings miss analysis
• Negative Sentiment: Netflix’s post-earnings decline over engagement concerns has spread across streaming and media shares, adding sector-wide selling pressure to Spotify. Streaming sector weakness

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.