Citizens Jmp reiterated their market outperform rating on shares of Spotify Technology (NYSE:SPOT – Free Report) in a report issued on Wednesday morning,Benzinga reports. Citizens Jmp currently has a $600.00 price objective on the stock, down from their previous price objective of $800.00.
A number of other research analysts have also recently issued reports on the company. Wells Fargo & Company reduced their price objective on Spotify Technology from $640.00 to $580.00 and set an “overweight” rating on the stock in a research note on Wednesday. Barclays reduced their price objective on Spotify Technology from $600.00 to $500.00 and set an “overweight” rating on the stock in a research note on Wednesday. Moffett Nathanson started coverage on Spotify Technology in a research note on Tuesday, January 27th. They set a “neutral” rating and a $487.00 price objective on the stock. Daiwa Securities Group started coverage on Spotify Technology in a research note on Thursday, March 26th. They set an “outperform” rating and a $535.00 price objective on the stock. Finally, Cantor Fitzgerald reduced their price objective on Spotify Technology from $525.00 to $430.00 and set a “neutral” rating on the stock in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $645.77.
Read Our Latest Analysis on SPOT
Spotify Technology Trading Down 1.1%
Spotify Technology (NYSE:SPOT – Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $4.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.41 by $0.63. Spotify Technology had a return on equity of 35.73% and a net margin of 15.56%.The firm had revenue of $5.25 billion for the quarter, compared to analysts’ expectations of $5.23 billion. During the same period last year, the firm earned $1.07 earnings per share. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, research analysts predict that Spotify Technology will post 14.64 EPS for the current year.
Insider Activity
In related news, CEO Alex Norstrom sold 5,436 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $479.51, for a total value of $2,606,616.36. Following the sale, the chief executive officer directly owned 69,989 shares of the company’s stock, valued at $33,560,425.39. This trade represents a 7.21% 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. Also, CEO Gustav Soderstrom sold 20,833 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $473.52, for a total value of $9,864,842.16. Following the completion of the sale, the chief executive officer directly owned 20,609 shares in the company, valued at $9,758,773.68. The trade was a 50.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.40% of the stock is owned by company insiders.
Institutional Trading of Spotify Technology
Several large investors have recently modified their holdings of the business. State Street Corp grew its stake in shares of Spotify Technology by 1.9% in the fourth quarter. State Street Corp now owns 4,712,249 shares of the company’s stock worth $2,736,450,000 after purchasing an additional 89,951 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Spotify Technology by 4.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,869,472 shares of the company’s stock worth $2,247,042,000 after purchasing an additional 149,479 shares during the last quarter. Capital World Investors grew its stake in shares of Spotify Technology by 4.9% in the fourth quarter. Capital World Investors now owns 2,863,821 shares of the company’s stock worth $1,663,024,000 after purchasing an additional 133,108 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Spotify Technology by 2.4% in the fourth quarter. Fisher Asset Management LLC now owns 2,665,512 shares of the company’s stock worth $1,547,890,000 after purchasing an additional 62,887 shares during the last quarter. Finally, Coatue Management LLC lifted its holdings in Spotify Technology by 35.9% in the fourth quarter. Coatue Management LLC now owns 2,450,881 shares of the company’s stock worth $1,423,251,000 after buying an additional 647,708 shares during the period. 84.09% of the stock is owned by institutional investors.
More Spotify Technology News
Here are the key news stories impacting Spotify Technology this week:
- Positive Sentiment: Product actions to protect listener trust — Spotify is rolling out a “Verified”/“Verified by Spotify” artist badge and other features to clamp down on AI-generated impostor artists, which could preserve user trust and ad/retention metrics. Spotify introduces verified artist badges to help distinguish humans from AI
- Positive Sentiment: Monetization lift from pricing — Spotify said it will raise monthly Premium prices by €1–€3 in some markets, a near-term revenue tailwind that can help offset slower user-growth trends. Spotify to hike all monthly premium plans by €1 to €3
- Positive Sentiment: Stake sale / buyback support — Universal Music’s move to sell half its Spotify stake and ramp buybacks could tighten float or lead to buyback activity that supports the share price. Universal Music to sell half of Spotify stake, boosts buybacks
- Positive Sentiment: Some analysts still bullish — Canaccord and a few other firms maintained high price targets (e.g., $720), signaling continued conviction in Spotify’s long-term story despite near-term headwinds. Spotify Technology (NYSE:SPOT) Given New $720.00 Price Target at Canaccord Genuity Group
- Neutral Sentiment: Trimmed-but-positive ratings — UBS cut its price target (from $760 to $735) but kept a Buy view, reflecting reduced upside expectations while still supporting a constructive medium-term thesis. UBS trims Spotify price target
- Neutral Sentiment: Valuation/entry debate — Several market pieces are assessing whether the recent pullback creates a buying opportunity or simply prices in slower growth; this keeps investor sentiment mixed until guidance clarity. Is Spotify (SPOT) Offering A Chance After The Recent 13% Share Price Slide?
- Negative Sentiment: Broad analyst downgrades and target cuts — Multiple firms (JPMorgan, Goldman Sachs, Wells Fargo, Barclays, Pivotal Research, Guggenheim and others) lowered expectations or price targets after the quarter, increasing selling pressure. Spotify Technology (NYSE:SPOT) Price Target Cut to $600.00 by Analysts at JPMorgan Chase & Co.
- Negative Sentiment: Earnings pain points: growth and ad revenue — Investors reacted to Q1 results where premium-subscriber growth slowed and ad-revenue trends disappointed, triggering the recent sizable weekly selloff. Why Spotify Stock Plummeted This Week
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.
Further Reading
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