Wells Fargo & Company Cuts Spotify Technology (NYSE:SPOT) Price Target to $710.00

Spotify Technology (NYSE:SPOT) had its price objective cut by Wells Fargo & Company from $750.00 to $710.00 in a report released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts also recently commented on the stock. BNP Paribas raised shares of Spotify Technology to a “strong-buy” rating in a report on Tuesday, September 16th. Cantor Fitzgerald reduced their price target on shares of Spotify Technology from $675.00 to $615.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Barclays dropped their price objective on shares of Spotify Technology from $750.00 to $700.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. The Goldman Sachs Group cut Spotify Technology from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $765.00 to $770.00 in a report on Tuesday, September 30th. Finally, Erste Group Bank downgraded Spotify Technology from a “buy” rating to a “hold” rating in a research report on Friday, December 5th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $747.23.

Spotify Technology Trading Down 4.0%

NYSE:SPOT opened at $507.61 on Tuesday. Spotify Technology has a 12-month low of $475.01 and a 12-month high of $785.00. The stock has a 50-day moving average price of $584.96 and a 200 day moving average price of $654.12. The stock has a market capitalization of $104.51 billion, a P/E ratio of 79.81, a P/E/G ratio of 1.00 and a beta of 1.66.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $3.83 EPS for the quarter, topping 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 $5.01 billion for the quarter, compared to analysts’ expectations of $4.23 billion. During the same period in the previous year, the firm earned $1.45 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. On average, research analysts predict that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Spotify Technology

Large investors have recently added to or reduced their stakes in the stock. Knuff & Co LLC bought a new stake in shares of Spotify Technology in the 2nd quarter valued at approximately $27,000. Total Investment Management Inc. purchased a new stake in Spotify Technology during the 2nd quarter valued at $29,000. Heartwood Wealth Advisors LLC purchased a new stake in Spotify Technology during the 3rd quarter valued at $27,000. Greykasell Wealth Strategies Inc. lifted its position in Spotify Technology by 3,800.0% in the third quarter. Greykasell Wealth Strategies Inc. now owns 39 shares of the company’s stock worth $27,000 after buying an additional 38 shares during the last quarter. Finally, KERR FINANCIAL PLANNING Corp purchased a new position in Spotify Technology during the third quarter worth $26,000. 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 announced a price increase for its Premium plan in the U.S., Estonia and Latvia (from $11.99 to $12.99/month), which should boost recurring subscription revenue and support margins. Spotify to raise premium subscription price to $12.99 a month in select markets
• Neutral Sentiment: Sanford C. Bernstein cut its price target from $830 to $650 but kept an “outperform” rating — a sign analysts still see upside but are moderating expectations. Benzinga
• Neutral Sentiment: Coverage highlighting unique Spotify features may support user retention and justify pricing power over time. 5 Spotify features that other music apps can’t match
• Negative Sentiment: Wells Fargo issued a pessimistic forecast for SPOT, adding near-term downside pressure as institutional sentiment cools. Wells Fargo & Company Issues Pessimistic Forecast for Spotify Technology (NYSE:SPOT) Stock Price
• Negative Sentiment: User and artist backlash over AI-generated content (“AI slop”) raises reputational and licensing risks that could pressure engagement or content relationships. ‘It causes further damage to talented musicians’: Spotify users call for streaming giant to stem the tide of AI slop
• Negative Sentiment: Market coverage noted SPOT traded down while the broader market gained, reflecting the combined effect of the above headlines on investor sentiment. Spotify (SPOT) Stock Dips While Market Gains: Key Facts

About Spotify Technology

Spotify Technology is a digital audio streaming company best known for its on-demand music service and a growing portfolio of spoken-word content. Founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon and launched commercially in 2008, the company offers a cross-platform app that enables users to discover, stream and organize music, podcasts and other audio. Its primary consumer products include a free, ad-supported tier and a paid Spotify Premium subscription that provides ad-free listening, offline playback and higher-quality audio streams.