Spotify Technology’s (SPOT) “Market Outperform” Rating Reiterated at Citizens Jmp

Citizens Jmp reaffirmed their market outperform rating on shares of Spotify Technology (NYSE:SPOT) in a research note published on Friday morning,Benzinga reports. Citizens Jmp currently has a $625.00 target price on the stock.

SPOT has been the subject of several other reports. UBS Group reduced their price target on Spotify Technology from $690.00 to $675.00 and set a “buy” rating for the company in a research note on Monday, October 5th. Benchmark lowered their price objective on Spotify Technology from $695.00 to $650.00 and set a “buy” rating on the stock in a research report on Wednesday, July 22nd. Weiss Ratings raised Spotify Technology from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 26th. Morgan Stanley lifted their target price on Spotify Technology from $610.00 to $640.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Finally, Argus reissued a “buy” rating and issued a $600.00 target price on shares of Spotify Technology in a research report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Spotify Technology has a consensus rating of “Moderate Buy” and an average price target of $620.07.

Spotify Technology Stock Down 0.1%

Shares of NYSE:SPOT opened at $583.84 on Friday. Spotify Technology has a 12-month low of $405.00 and a 12-month high of $676.67. The stock has a market cap of $120.20 billion, a PE ratio of 38.71, a P/E/G ratio of 1.81 and a beta of 1.61. The business has a 50 day moving average of $526.60 and a 200-day moving average of $497.97.

Spotify Technology (NYSE:SPOT) last posted its earnings results on Tuesday, August 4th. The company reported $3.03 EPS for the quarter, missing the consensus estimate of $3.16 by ($0.13). The firm had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.47 billion. Spotify Technology had a net margin of 15.74% and a return on equity of 35.64%. Spotify Technology’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.42) EPS. Equities research analysts expect that Spotify Technology will post 13.62 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Gustav Söderström sold 20,910 shares of the stock in a transaction that occurred on 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 represents a 51.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $502.10, for a total value of $2,729,415.60. Following the sale, the chief executive officer directly owned 66,773 shares in the company, valued at $33,526,723.30. This represents a 7.53% 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. Over the last quarter, insiders sold 68,092 shares of company stock valued at $35,762,410. 0.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Spotify Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPOT. Kingswood Wealth Advisors LLC lifted its position in shares of Spotify Technology by 66.3% during the 3rd quarter. Kingswood Wealth Advisors LLC now owns 1,196 shares of the company’s stock valued at $583,000 after acquiring an additional 477 shares during the period. Signaturefd LLC grew its holdings in shares of Spotify Technology by 19.8% during the 3rd quarter. Signaturefd LLC now owns 4,675 shares of the company’s stock worth $2,279,000 after purchasing an additional 773 shares in the last quarter. Citizens Financial Group Inc. RI increased its position in shares of Spotify Technology by 10.0% in the third quarter. Citizens Financial Group Inc. RI now owns 2,254 shares of the company’s stock worth $1,099,000 after purchasing an additional 205 shares during the period. Simplicity Wealth LLC increased its position in shares of Spotify Technology by 6.9% in the third quarter. Simplicity Wealth LLC now owns 899 shares of the company’s stock worth $438,000 after purchasing an additional 58 shares during the period. Finally, Evergreen Capital Management LLC increased its position in shares of Spotify Technology by 10.6% in the third quarter. Evergreen Capital Management LLC now owns 2,879 shares of the company’s stock worth $1,403,000 after purchasing an additional 276 shares during the period. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology News Roundup

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

• Positive Sentiment: Spotify reported 306 million premium subscribers in the third quarter, up 9% year over year and 1 million above its guidance. Monthly active users rose 11% to 788 million, with growth across all regions. Spotify Stock Jumps as Subscriber Growth Beats Expectations
• Positive Sentiment: Revenue increased roughly 16% year over year to about €4.97 billion, while gross margin expanded 140 basis points to 33% and operating income exceeded company guidance. Spotify expects fourth-quarter operating profit above Wall Street expectations and projects revenue of approximately €6.0 billion. Spotify forecasts fourth-quarter profit above estimates on AI bets
• Positive Sentiment: Management highlighted AI-powered personalization, including its “taste model,” as a way to increase listening, reduce churn and support pricing power. It also expects moderating expenses and continued margin expansion, with long-term targets of more than 20% operating margin and 35%–40% gross margin by 2030. Spotify Soars After Earnings as the Company Touts AI Benefits and Moderating Costs
• Positive Sentiment: Several analysts raised their targets following the results. Morgan Stanley and JPMorgan lifted targets to $700 with overweight ratings, while Wells Fargo, Barclays, Oppenheimer and Guggenheim also raised targets to $650–$660. Spotify Analysts Raise Their Forecasts Following Q3 Earnings
• Neutral Sentiment: Spotify’s headline results were mixed: quarterly EPS of roughly $2.78–$2.85 missed consensus near $3.10–$3.18, while revenue was slightly below estimates. Piper Sandler maintained a neutral rating with a $580 target, and Cantor Fitzgerald maintained neutral at $550.
• Negative Sentiment: TD Cowen reaffirmed a hold rating with a $525 price target, and some newly raised targets remain below the current market valuation, signaling concerns that much of the subscriber and AI optimism may already be reflected in SPOT shares.

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.