Spotify Technology (NYSE:SPOT) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Spotify Technology (NYSE:SPOT) from a hold rating to a buy rating in a research report released on Saturday morning.

A number of other analysts also recently issued reports on SPOT. UBS Group lowered their price target on shares of Spotify Technology from $895.00 to $850.00 and set a “buy” rating on the stock in a report on Wednesday, July 30th. DZ Bank raised shares of Spotify Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. KeyCorp cut their price target on Spotify Technology from $860.00 to $830.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. BNP Paribas Exane started coverage on Spotify Technology in a report on Tuesday, September 16th. They issued an “outperform” rating and a $900.00 price target for the company. Finally, Benchmark raised their price objective on Spotify Technology from $800.00 to $860.00 and gave the company a “buy” rating in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $729.94.

Spotify Technology Stock Down 0.2%

Shares of SPOT traded down $1.04 during mid-day trading on Friday, reaching $617.16. The company had a trading volume of 1,842,830 shares, compared to its average volume of 1,775,166. The stock has a market capitalization of $127.07 billion, a P/E ratio of 97.04, a PEG ratio of 2.49 and a beta of 1.67. Spotify Technology has a 52-week low of $397.33 and a 52-week high of $785.00. The stock has a 50 day moving average of $685.11 and a two-hundred day moving average of $682.94.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $3.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $1.96. Spotify Technology had a return on equity of 21.68% and a net margin of 8.46%.The company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.23 billion. During the same period in the previous year, the company posted $1.45 earnings per share. Spotify Technology’s revenue for the quarter was up 7.1% on a year-over-year basis. Spotify Technology has set its Q4 2025 guidance at EPS. On average, sell-side analysts expect that Spotify Technology will post 10.3 earnings per share for the current year.

Hedge Funds Weigh In On Spotify Technology

Hedge funds and other institutional investors have recently made changes to their positions in the company. U.S. Capital Wealth Advisors LLC lifted its holdings in Spotify Technology by 14.6% in the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 818 shares of the company’s stock valued at $450,000 after purchasing an additional 104 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in Spotify Technology by 51.5% during the first quarter. Crossmark Global Holdings Inc. now owns 1,136 shares of the company’s stock worth $625,000 after acquiring an additional 386 shares during the last quarter. Stratos Wealth Partners LTD. grew its stake in Spotify Technology by 24.4% during the 1st quarter. Stratos Wealth Partners LTD. now owns 1,552 shares of the company’s stock valued at $854,000 after acquiring an additional 304 shares in the last quarter. Valeo Financial Advisors LLC acquired a new stake in Spotify Technology in the 1st quarter valued at about $211,000. Finally, Greenleaf Trust purchased a new position in Spotify Technology in the 1st quarter worth approximately $249,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

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.