Spotify Technology (NYSE:SPOT) Given Market Outperform Rating at Citizens Jmp

Spotify Technology (NYSE:SPOT)‘s stock had its “market outperform” rating reaffirmed by equities researchers at Citizens Jmp in a note issued to investors on Friday, Benzinga reports. They currently have a $625.00 target price on the stock. Citizens Jmp‘s target price would suggest a potential upside of 6.40% from the stock’s current price.

Several other research firms have also recently issued reports on SPOT. Argus reaffirmed a “buy” rating and issued a $600.00 price objective on shares of Spotify Technology in a research report on Thursday, August 13th. Phillip Securities upgraded Spotify Technology to a “buy” rating and set a $650.00 price objective for the company in a report on Tuesday, August 11th. Rosenblatt Securities reissued a “neutral” rating and issued a $527.00 target price on shares of Spotify Technology in a research report on Tuesday. Piper Sandler started coverage on shares of Spotify Technology in a research note on Thursday, October 8th. They issued a “neutral” rating and a $540.00 price target for the company. Finally, Wall Street Zen cut shares of Spotify Technology from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Spotify Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $620.07.

Spotify Technology Price Performance

SPOT stock traded up $3.73 during trading on Friday, hitting $587.39. 1,474,589 shares of the stock traded hands, compared to its average volume of 2,200,416. The stock has a market cap of $120.93 billion, a price-to-earnings ratio of 36.54, a price-to-earnings-growth ratio of 1.63 and a beta of 1.61. Spotify Technology has a 1 year low of $405.00 and a 1 year high of $676.67. The firm’s 50 day moving average is $525.20 and its two-hundred day moving average is $497.27.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $3.03 EPS for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.13). The firm had revenue of $5.45 billion for the quarter, compared to analysts’ expectations of $5.47 billion. Spotify Technology had a net margin of 18.44% and a return on equity of 41.39%. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.42) EPS. As a group, analysts anticipate that Spotify Technology will post 13.66 EPS for the current fiscal year.

Insider Activity at Spotify Technology

In other Spotify Technology news, CEO Gustav Söderström sold 20,913 shares of the business’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $544.19, for a total transaction of $11,380,645.47. Following the completion of the sale, the chief executive officer owned 20,025 shares of the company’s stock, valued at approximately $10,897,404.75. The trade was a 51.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $502.10, for a total value of $2,729,415.60. Following the completion of the sale, the chief executive officer owned 66,773 shares of the company’s stock, valued at approximately $33,526,723.30. The trade was a 7.53% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 68,092 shares of company stock worth $35,762,410 over the last quarter. Insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC increased its holdings in Spotify Technology by 20.1% in the 1st quarter. Janus Henderson Group PLC now owns 1,711,015 shares of the company’s stock worth $829,641,000 after acquiring an additional 286,844 shares in the last quarter. Tiger Global Management LLC lifted its stake in shares of Spotify Technology by 25.3% during the 1st quarter. Tiger Global Management LLC now owns 1,580,761 shares of the company’s stock valued at $766,527,000 after buying an additional 319,300 shares in the last quarter. Amundi lifted its stake in shares of Spotify Technology by 20.0% during the 1st quarter. Amundi now owns 1,104,484 shares of the company’s stock valued at $535,575,000 after buying an additional 183,994 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Spotify Technology by 53.4% in the 1st quarter. Principal Financial Group Inc. now owns 989,667 shares of the company’s stock worth $479,899,000 after buying an additional 344,471 shares during the period. Finally, Sei Investments Co. raised its holdings in Spotify Technology by 1.8% during the first quarter. Sei Investments Co. now owns 749,495 shares of the company’s stock valued at $363,415,000 after acquiring an additional 13,381 shares during the period. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology News Summary

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

• Positive Sentiment: Spotify’s premium subscribers rose 9% year over year to 306 million, exceeding company guidance by 1 million, while monthly active users increased 11% to 788 million. Management expects 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: Revenue rose roughly 16% year over year to €4.97 billion, and gross margin expanded 140 basis points to 33%, exceeding expectations. Advertising trends are improving, while expense growth is slowing and management expects further margin improvement into 2027.
• Positive Sentiment: Investors responded favorably to Spotify’s AI strategy, including its personalized “taste model,” AI-enabled discovery and efforts to make its service accessible through AI agents. The company said these initiatives are increasing content discovery and could drive engagement, retention and long-term pricing power. Spotify’s current AI bet is about being the music service that agents choose
• Positive Sentiment: Several analysts raised their targets following the report. JPMorgan increased its target to $700 with an overweight rating, while Wells Fargo, Barclays, Guggenheim and Oppenheimer raised targets to between $650 and $660; Oppenheimer upgraded the stock to outperform. Spotify Analysts Raise Their Forecasts Following Q3 Earnings

About Spotify Technology

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.