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

Spotify Technology (NYSE:SPOT)‘s stock had its “market outperform” rating reaffirmed by research analysts at Citizens Jmp in a note issued to investors on Friday, Benzinga reports. They currently have a $625.00 target price on the stock. Citizens Jmp‘s price target would indicate a potential upside of 7.05% from the stock’s current price.

Several other research analysts have also commented on the stock. Phillip Securities upgraded 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. Guggenheim upped their price objective on shares of Spotify Technology from $575.00 to $650.00 and gave the stock a “buy” rating in a report on Friday. Morgan Stanley upped their price objective on shares of Spotify Technology from $610.00 to $640.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Piper Sandler assumed coverage on shares of Spotify Technology in a report on Thursday, October 8th. They issued a “neutral” rating and a $540.00 price objective for the company. Finally, Stonex Financia lowered shares of Spotify Technology from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $620.07.

Spotify Technology Trading 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 firm has a market capitalization of $120.20 billion, a PE ratio of 38.71, a price-to-earnings-growth ratio of 1.81 and a beta of 1.61. The firm has a fifty day simple moving average of $526.60 and a two-hundred day simple moving average of $497.97.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data 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 company had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.64 billion. During the same quarter last year, the company posted $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, sell-side analysts predict that Spotify Technology will post 13.62 earnings per share for the current year.

Insider Transactions at Spotify Technology

In other Spotify Technology news, CEO Gustav Söderström sold 20,910 shares of the firm’s stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $530.13, for a total transaction of $11,085,018.30. Following the completion of the sale, the chief executive officer directly owned 19,908 shares in the company, valued at approximately $10,553,828.04. This trade represents a 51.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 firm’s 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 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 ownership of the stock. 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 90 days, insiders have sold 68,092 shares of company stock valued at $35,762,410. 0.40% of the stock is owned by company insiders.

Institutional Trading of Spotify Technology

Institutional investors and hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC increased its stake 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. Tiger Global Management LLC increased its stake 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 valued at $766,527,000 after purchasing an additional 319,300 shares in the last quarter. Amundi increased its stake in Spotify Technology by 20.0% during the 1st quarter. Amundi now owns 1,104,484 shares of the company’s stock valued at $535,575,000 after purchasing an additional 183,994 shares in the last quarter. Principal Financial Group Inc. increased its stake in Spotify Technology by 53.4% during the 1st quarter. Principal Financial Group Inc. now owns 989,667 shares of the company’s stock valued at $479,899,000 after purchasing an additional 344,471 shares in the last quarter. Finally, Sei Investments Co. increased its stake in Spotify Technology by 1.8% during the 1st quarter. Sei Investments Co. now owns 749,495 shares of the company’s stock valued at $363,415,000 after purchasing an additional 13,381 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors.

Trending Headlines about Spotify Technology

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

• Positive Sentiment: Strong user growth and upbeat outlook: Spotify reported double-digit third-quarter growth and significant increases in user and subscriber counts. Management expects approximately 10% user growth in the current quarter, along with €5.2 billion in revenue and a 33.8% gross margin. Is Spotify Technology SA a Buy After Its Latest Earnings Report?
• Positive Sentiment: Analyst support remains broad: JPMorgan, Cantor Fitzgerald, Barclays, Wells Fargo, Guggenheim, Morgan Stanley, Citizens JMP and Oppenheimer maintained or issued bullish views, including price-target increases and “market outperform” recommendations. These actions indicate analysts see further appreciation potential after the earnings release. Cantor Fitzgerald Forecasts Strong Price Appreciation for Spotify Technology
• Neutral Sentiment: Competitive position remains strong, but risks persist: Spotify retains leading market share and benefits from exclusive content, although bundling by Apple and YouTube Music could pressure pricing, engagement or subscriber growth. Spotify Earnings: A Miss, But Long-Term Potential Remains
• Negative Sentiment: Quarterly results missed expectations: Spotify delivered adjusted EPS of $2.81 versus the $3.18 consensus estimate, while revenue of $5.63 billion was slightly below the $5.64 billion forecast. Piper Sandler retained a “neutral” rating, reflecting valuation and execution concerns. Piper Sandler Reaffirms Neutral Rating
• Negative Sentiment: Zacks downgrade adds pressure: Zacks Research cut Spotify from “hold” to “strong sell,” creating a notably bearish counterpoint to the generally favorable analyst commentary. Zacks Research Ratings

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.