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

Spotify Technology (NYSE: SPOT) recently received a number of ratings updates from brokerages and research firms:

• 12/2/2024 – Spotify Technology had its price target raised by analysts at Canaccord Genuity Group Inc. from $525.00 to $560.00. They now have a “buy” rating on the stock.
• 11/14/2024 – Spotify Technology had its price target raised by analysts at The Goldman Sachs Group, Inc. from $430.00 to $490.00. They now have a “buy” rating on the stock.
• 11/14/2024 – Spotify Technology had its price target raised by analysts at Canaccord Genuity Group Inc. from $475.00 to $525.00. They now have a “buy” rating on the stock.
• 11/13/2024 – Spotify Technology had its price target raised by analysts at Wells Fargo & Company from $470.00 to $520.00. They now have an “overweight” rating on the stock.
• 11/13/2024 – Spotify Technology had its price target raised by analysts at KeyCorp from $490.00 to $520.00. They now have an “overweight” rating on the stock.
• 11/13/2024 – Spotify Technology had its price target raised by analysts at Barclays PLC from $385.00 to $475.00. They now have an “overweight” rating on the stock.
• 11/13/2024 – Spotify Technology had its price target raised by analysts at JPMorgan Chase & Co. from $425.00 to $530.00. They now have an “overweight” rating on the stock.
• 11/13/2024 – Spotify Technology had its price target raised by analysts at Morgan Stanley from $430.00 to $460.00. They now have an “overweight” rating on the stock.
• 11/13/2024 – Spotify Technology had its price target raised by analysts at Macquarie from $395.00 to $500.00. They now have an “outperform” rating on the stock.
• 11/13/2024 – Spotify Technology had its price target raised by analysts at Piper Sandler from $330.00 to $450.00. They now have a “neutral” rating on the stock.
• 11/13/2024 – Spotify Technology had its price target raised by analysts at TD Cowen from $356.00 to $416.00. They now have a “hold” rating on the stock.
• 11/13/2024 – Spotify Technology had its price target raised by analysts at Bank of America Co. from $430.00 to $515.00. They now have a “buy” rating on the stock.
• 11/13/2024 – Spotify Technology had its price target raised by analysts at Pivotal Research from $510.00 to $565.00. They now have a “buy” rating on the stock.
• 11/13/2024 – Spotify Technology had its “accumulate” rating reaffirmed by analysts at Phillip Securities. They now have a $485.00 price target on the stock, up previously from $420.00.
• 11/11/2024 – Spotify Technology had its price target raised by analysts at Benchmark Co. from $430.00 to $440.00. They now have a “buy” rating on the stock.
• 11/6/2024 – Spotify Technology had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $430.00 to $440.00. They now have a “buy” rating on the stock.
• 10/28/2024 – Spotify Technology had its price target raised by analysts at Wells Fargo & Company from $420.00 to $470.00. They now have an “overweight” rating on the stock.
• 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.

Spotify Technology Stock Performance

Shares of NYSE:SPOT traded up $13.05 during trading hours on Tuesday, hitting $493.32. 2,157,138 shares of the company’s stock traded hands, compared to its average volume of 2,060,047. Spotify Technology S.A. has a 52 week low of $185.37 and a 52 week high of $494.00. The company’s fifty day simple moving average is $404.30 and its two-hundred day simple moving average is $350.99. The company has a market cap of $98.20 billion, a price-to-earnings ratio of 134.05 and a beta of 1.61.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.30). The company had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.03 billion. Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. Spotify Technology’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same period last year, the company earned $0.36 earnings per share. On average, analysts anticipate that Spotify Technology S.A. will post 6.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Spotify Technology

A number of institutional investors have recently modified their holdings of SPOT. Aigen Investment Management LP boosted its stake in Spotify Technology by 42.4% during the third quarter. Aigen Investment Management LP now owns 9,800 shares of the company’s stock worth $3,612,000 after buying an additional 2,918 shares in the last quarter. Pathway Capital Management LP boosted its stake in Spotify Technology by 23.8% during the third quarter. Pathway Capital Management LP now owns 57,340 shares of the company’s stock worth $21,132,000 after buying an additional 11,042 shares in the last quarter. Perpetual Ltd boosted its stake in Spotify Technology by 24.3% during the third quarter. Perpetual Ltd now owns 759,681 shares of the company’s stock worth $279,965,000 after buying an additional 148,431 shares in the last quarter. Covenant Asset Management LLC acquired a new stake in Spotify Technology during the third quarter worth $3,364,000. Finally, Jag Capital Management LLC acquired a new stake in Spotify Technology during the third quarter worth $13,569,000. 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.