Spotify Technology (NYSE:SPOT) Cut to Neutral at The Goldman Sachs Group

The Goldman Sachs Group lowered shares of Spotify Technology (NYSE:SPOT) from a buy rating to a neutral rating in a research note issued to investors on Tuesday, Marketbeat.com reports. The Goldman Sachs Group currently has $770.00 target price on the stock, up from their previous target price of $765.00.

SPOT has been the topic of a number of other research reports. Argus started coverage on Spotify Technology in a report on Monday. They issued a “buy” rating and a $845.00 target price on the stock. Sanford C. Bernstein boosted their price objective on Spotify Technology from $825.00 to $840.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft boosted their price objective on Spotify Technology from $700.00 to $775.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Rosenblatt Securities reduced their price objective on Spotify Technology from $703.00 to $679.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 30th. Finally, Bank of America boosted their price objective on Spotify Technology from $700.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, June 26th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $731.16.

Spotify Technology Trading Up 1.0%

Shares of Spotify Technology stock opened at $707.70 on Tuesday. Spotify Technology has a twelve month low of $362.31 and a twelve month high of $785.00. The stock has a market capitalization of $144.87 billion, a P/E ratio of 171.77, a PEG ratio of 3.32 and a beta of 1.67. The business’s fifty day moving average price is $696.08 and its 200 day moving average price is $663.52.

Spotify Technology (NYSE:SPOT) last issued its earnings results on Tuesday, July 29th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of $2.00 by ($2.42). Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The firm had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the previous year, the business posted $1.33 EPS. Spotify Technology’s revenue was up 10.1% compared to the same quarter last year. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, sell-side analysts predict that Spotify Technology will post 10.3 EPS for the current year.

Institutional Trading of Spotify Technology

Hedge funds and other institutional investors have recently modified their holdings of the business. 180 Wealth Advisors LLC increased its holdings in Spotify Technology by 6.8% in the first quarter. 180 Wealth Advisors LLC now owns 664 shares of the company’s stock valued at $365,000 after buying an additional 42 shares during the last quarter. NBC Securities Inc. bought a new stake in Spotify Technology in the first quarter valued at about $384,000. LVW Advisors LLC increased its holdings in Spotify Technology by 65.0% in the first quarter. LVW Advisors LLC now owns 1,076 shares of the company’s stock valued at $592,000 after buying an additional 424 shares during the last quarter. Harbor Investment Advisory LLC increased its holdings in Spotify Technology by 1,298.1% in the first quarter. Harbor Investment Advisory LLC now owns 1,510 shares of the company’s stock valued at $831,000 after buying an additional 1,402 shares during the last quarter. Finally, Merit Financial Group LLC increased its holdings in Spotify Technology by 28.7% in the first quarter. Merit Financial Group LLC now owns 4,180 shares of the company’s stock valued at $2,299,000 after buying an additional 932 shares during the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

About Spotify Technology

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.