Research Analysts’ Recent Ratings Updates for Spotify Technology (SPOT)

Spotify Technology (NYSE: SPOT) has recently received a number of price target changes and ratings updates:

• 10/23/2024 – Spotify Technology had its price target raised by analysts at Morgan Stanley from $400.00 to $430.00. They now have an “overweight” rating on the stock.
• 10/17/2024 – Spotify Technology had its price target raised by analysts at Rosenblatt Securities from $399.00 to $438.00. They now have a “buy” rating on the stock.
• 10/16/2024 – Spotify Technology had its price target raised by analysts at KeyCorp from $440.00 to $490.00. They now have an “overweight” rating on the stock.
• 10/7/2024 – Spotify Technology had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $340.00 price target on the stock.
• 9/30/2024 – Spotify Technology had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $340.00 price target on the stock.
• 9/23/2024 – Spotify Technology had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $340.00 price target on the stock.
• 9/19/2024 – Spotify Technology had its price target raised by analysts at Pivotal Research from $460.00 to $510.00. They now have a “buy” rating on the stock.
• 9/16/2024 – Spotify Technology had its price target raised by analysts at KeyCorp from $420.00 to $440.00. They now have an “overweight” rating on the stock.
• 9/5/2024 – Spotify Technology is now covered by analysts at Cantor Fitzgerald. They set a “neutral” rating and a $340.00 price target on the stock.
• 8/29/2024 – Spotify Technology had its price target raised by analysts at Evercore ISI from $420.00 to $460.00. They now have an “outperform” rating on the stock.

Spotify Technology Stock Performance

SPOT stock traded down $0.49 during trading hours on Wednesday, hitting $387.14. 358,465 shares of the stock were exchanged, compared to its average volume of 1,854,801. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $77.06 billion, a P/E ratio of 158.02 and a beta of 1.58. The company has a 50-day simple moving average of $354.46 and a two-hundred day simple moving average of $324.45. Spotify Technology S.A. has a 12 month low of $155.00 and a 12 month high of $389.48.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.25. The firm had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.82 billion. Spotify Technology had a return on equity of 15.23% and a net margin of 3.22%. The company’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same quarter last year, the business earned ($1.69) EPS. On average, analysts forecast that Spotify Technology S.A. will post 6.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SPOT. Vanguard Group Inc. grew its holdings in shares of Spotify Technology by 6.3% during the 4th quarter. Vanguard Group Inc. now owns 588,847 shares of the company’s stock worth $110,650,000 after purchasing an additional 34,781 shares in the last quarter. Park Avenue Securities LLC grew its holdings in shares of Spotify Technology by 16.5% during the 1st quarter. Park Avenue Securities LLC now owns 1,943 shares of the company’s stock worth $513,000 after purchasing an additional 275 shares in the last quarter. RFG Advisory LLC grew its holdings in shares of Spotify Technology by 21.5% during the 1st quarter. RFG Advisory LLC now owns 1,442 shares of the company’s stock worth $381,000 after purchasing an additional 255 shares in the last quarter. Brookstone Capital Management grew its holdings in shares of Spotify Technology by 5.0% during the 1st quarter. Brookstone Capital Management now owns 1,280 shares of the company’s stock worth $338,000 after purchasing an additional 61 shares in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Spotify Technology during the 1st quarter worth $40,000. Institutional investors own 84.09% of the company’s stock.

Spotify Technology SA, together with its subsidiaries, provides audio streaming subscription services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.