Spotify Technology (NYSE:SPOT) Stock Gets Price Target Bump from Wells Fargo & Company

Spotify Technology (NYSE:SPOT) had its price objective lifted by Wells Fargo & Company from $570.00 to $660.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 15.13% from the stock’s previous close.

A number of other brokerages have also recently issued reports on SPOT. Guggenheim boosted their target price on shares of Spotify Technology from $575.00 to $650.00 and gave the company a “buy” rating in a research note on Friday. Morgan Stanley upped their target price on shares of Spotify Technology from $610.00 to $640.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Argus reiterated a “buy” rating and set a $600.00 target price on shares of Spotify Technology in a research report on Thursday, August 13th. Piper Sandler assumed coverage on shares of Spotify Technology in a report on Thursday, October 8th. They set a “neutral” rating and a $540.00 price target for the company. Finally, UBS Group reduced their price target on shares of Spotify Technology from $690.00 to $675.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $618.34.

Spotify Technology Price Performance

Shares of Spotify Technology stock traded down $10.38 during midday trading on Friday, hitting $573.28. 674,463 shares of the company were exchanged, compared to its average volume of 2,196,025. The firm has a market cap of $118.03 billion, a P/E ratio of 35.79, a PEG ratio of 1.63 and a beta of 1.61. Spotify Technology has a 52 week low of $405.00 and a 52 week high of $676.67. The firm has a 50 day simple moving average of $525.20 and a 200-day simple moving average of $497.27.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $3.03 EPS for the quarter, missing the consensus estimate of $3.16 by ($0.13). Spotify Technology had a net margin of 18.44% and a return on equity of 41.39%. The company had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.47 billion. During the same period in the prior year, the firm earned ($0.42) EPS. Spotify Technology’s quarterly revenue was up 13.9% compared to the same quarter last year. Equities research analysts expect that Spotify Technology will post 13.66 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Gustav Söderström sold 20,913 shares of the stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $544.19, for a total transaction of $11,380,645.47. Following the sale, the chief executive officer directly owned 20,025 shares of the company’s stock, valued at $10,897,404.75. This represents a 51.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Alex Norström sold 5,436 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $502.10, for a total transaction of $2,729,415.60. Following the completion of the sale, the chief executive officer directly owned 66,773 shares of the company’s stock, valued at approximately $33,526,723.30. This represents a 7.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 68,092 shares of company stock worth $35,762,410 over the last quarter. 0.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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

Trending Headlines about Spotify Technology

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

• Positive Sentiment: Subscriber growth exceeded expectations: Premium subscribers rose 9% year over year to 306 million, one million above Spotify’s guidance, while monthly active users increased 11% to 788 million. Management expects to reach approximately 316 million premium subscribers and 818 million monthly active users in the fourth quarter. Spotify Stock Surges on Q3 Subscriber Beat and Bullish Forecast
• Positive Sentiment: Profitability trends improved: Third-quarter revenue rose roughly 16% year over year to about €4.97 billion, operating income reached €672 million, and gross margin expanded to 33%. Spotify expects fourth-quarter operating income and gross margin to remain stronger as costs and investment intensity moderate. Spotify revenue rises as subscribers and margins improve
• Positive Sentiment: AI is viewed as a future growth catalyst: Spotify highlighted its AI-powered “taste model,” personalized experiences and efforts to make its service accessible through AI agents. The company said AI is accelerating feature development without increasing headcount, potentially supporting engagement, retention and long-term margin expansion. Spotify’s current AI bet
• Positive Sentiment: Analyst sentiment improved: Guggenheim raised its price target to $650 and assigned a Buy rating, while Barclays also lifted its target to $650 and maintained Overweight. Guggenheim Spotify recommendations
• Neutral Sentiment: Mixed quarterly results: Adjusted earnings per share and revenue were slightly below consensus, although revenue growth remained healthy and subscriber and margin metrics were stronger than expected. Spotify forecasts fourth-quarter profit above estimates
• Negative Sentiment: Valuation and analyst caution remain risks: Cantor Fitzgerald raised its target to $550 but retained a Neutral rating, implying limited upside from the referenced price level. The earnings miss could also pressure the stock if subscriber momentum or AI-related benefits fail to translate into sustained profits. Cantor Fitzgerald Spotify recommendations

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.