Spotify Technology (NYSE:SPOT) Price Target Raised to $650.00

Spotify Technology (NYSE:SPOT) had its price target lifted by Barclays from $565.00 to $650.00 in a report published on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages have also issued reports on SPOT. Cantor Fitzgerald boosted their target price on shares of Spotify Technology from $490.00 to $550.00 and gave the stock a “neutral” rating in a research report on Friday. Rosenblatt Securities reissued a “neutral” rating and issued a $527.00 price target on shares of Spotify Technology in a report on Tuesday, October 20th. TD Cowen restated a “hold” rating and issued a $525.00 price target on shares of Spotify Technology in a research report on Friday. Benchmark dropped their price objective on shares of Spotify Technology from $695.00 to $650.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. Finally, Weiss Ratings upgraded shares of Spotify Technology from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 26th. One 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $620.07.

Spotify Technology Stock Down 0.1%

Shares of SPOT stock 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 cap 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 stock 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 quarterly earnings data on Tuesday, August 4th. The company reported $3.03 earnings per share for the quarter, missing the consensus estimate of $3.16 by ($0.13). The business had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.47 billion. Spotify Technology had a net margin of 15.74% and a return on equity of 35.64%. The firm’s revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.42) earnings per share. As a group, equities analysts predict that Spotify Technology will post 13.62 EPS for the current fiscal year.

Insider Activity at Spotify Technology

In other news, CEO Alex Norström sold 5,436 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $502.10, for a total transaction of $2,729,415.60. Following the sale, the chief executive officer directly owned 66,773 shares in the company, valued at approximately $33,526,723.30. The trade was a 7.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Gustav Söderström sold 20,910 shares of the company’s stock in a transaction on Monday, October 12th. The shares were sold at an average price of $530.13, for a total value of $11,085,018.30. Following the completion of the transaction, the chief executive officer owned 19,908 shares of the company’s stock, valued at $10,553,828.04. The trade was a 51.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 68,092 shares of company stock worth $35,762,410 in the last three months. 0.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Pin Oak Investment Advisors Inc. acquired a new stake in Spotify Technology during the second quarter worth $27,000. Portus Wealth Advisors LLC bought a new stake in Spotify Technology in the 1st quarter valued at $32,000. Whipplewood Advisors LLC increased its holdings in Spotify Technology by 423.1% in the 1st quarter. Whipplewood Advisors LLC now owns 68 shares of the company’s stock valued at $33,000 after buying an additional 55 shares during the period. Palladiem LLC bought a new stake in Spotify Technology in the 1st quarter valued at $34,000. Finally, Tsfg LLC raised its stake in shares of Spotify Technology by 39.7% in the 2nd quarter. Tsfg LLC now owns 81 shares of the company’s stock valued at $37,000 after buying an additional 23 shares in the last quarter. 84.09% of the stock is owned by institutional investors.

Key Stories Impacting Spotify Technology

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.

About Spotify Technology

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.