Spotify Technology (NYSE:SPOT) Stock Has Average Price Target of $620.07

Spotify Technology (NYSE:SPOT) has been given an average recommendation of “Moderate Buy” by the thirty-three research firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-three have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $620.07.

A number of equities research analysts have issued reports on SPOT shares. Zacks Research lowered shares of Spotify Technology from a “hold” rating to a “strong sell” rating in a report on Thursday, October 22nd. Rosenblatt Securities reissued a “neutral” rating and issued a $527.00 target price on shares of Spotify Technology in a research note on Tuesday, October 20th. Weiss Ratings upgraded Spotify Technology from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 26th. Wall Street Zen lowered Spotify Technology from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, UBS Group reduced their target price on Spotify Technology from $690.00 to $675.00 and set a “buy” rating on the stock in a research note on Monday, October 5th.

Trending Headlines about Spotify Technology

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

• Positive Sentiment: A bullish forecast argues Spotify could reach $1,000 per share, citing compounding subscriber growth and rising margins. This is an analyst-style prediction, not company guidance. Price Prediction: Spotify Will Hit $1,000 on This Date
• Positive Sentiment: A reported 16.82% increase to the price target for Spotify depositary receipts adds to the positive sentiment, though the quoted target is in Brazilian reais and is not directly comparable with SPOT shares in U.S. dollars. Spotify Technology SA – Depositary receipt price target increased
• Positive Sentiment: Spotify plans to launch an AI music remix service in the coming months. The feature could broaden listening and engagement, although the article provides no projected financial impact. Spotify to launch AI music remix service
• Neutral Sentiment: Spotify is adapting its India strategy around artist-first music as listening habits shift, potentially supporting its local appeal, but the report gives no near-term growth or revenue estimates. Spotify bets on artist-first music as India’s listening habits shift
• Neutral Sentiment: One analysis notes SPOT has gained 33% in six months and weighs whether investors should buy more or take profits. That sharp run-up could support momentum but also make some holders more inclined to lock in gains. Spotify Is Up 33% in Six Months: Take Profits, or Buy More?

Insider Buying and Selling

In related news, CEO Gustav Söderström sold 20,910 shares of the firm’s stock in a transaction on Monday, October 12th. The stock was sold at an average price of $530.13, for a total value of $11,085,018.30. Following the completion of the sale, the chief executive officer owned 19,908 shares of the company’s stock, valued at $10,553,828.04. This trade represents a 51.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Spotify Technology

A number of large investors have recently modified their holdings of the stock. Janus Henderson Group PLC lifted its holdings in Spotify Technology by 20.1% during the first 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 shares of Spotify Technology by 25.3% in the first 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 in the last quarter. Amundi increased its stake in shares of Spotify Technology by 20.0% in the first quarter. Amundi now owns 1,104,484 shares of the company’s stock worth $535,575,000 after purchasing an additional 183,994 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of 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 during the period. Finally, Sei Investments Co. raised its position in shares of 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 during the period. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

SPOT opened at $600.84 on Friday. The stock’s 50 day simple moving average is $533.12 and its 200 day simple moving average is $498.87. Spotify Technology has a 1 year low of $405.00 and a 1 year high of $668.49. The firm has a market cap of $123.70 billion, a price-to-earnings ratio of 39.39, a PEG ratio of 1.84 and a beta of 1.49.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings results on Thursday, October 22nd. The company reported $2.81 EPS 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 company had revenue of $5.63 billion during the quarter, compared to analysts’ expectations of $5.64 billion. During the same period last year, the firm earned $3.28 earnings per share. Spotify Technology’s revenue for the quarter was up 16.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Spotify Technology will post 13.66 EPS for the current year.

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.