Spotify Technology (SPOT) – Investment Analysts’ Recent Ratings Updates

Several brokerages have updated their recommendations and price targets on shares of Spotify Technology (NYSE: SPOT) in the last few weeks:

• 4/24/2024 – Spotify Technology had its price target raised by analysts at Barclays PLC from $335.00 to $350.00. They now have an “overweight” rating on the stock.
• 4/24/2024 – Spotify Technology had its price target raised by analysts at JPMorgan Chase & Co. from $320.00 to $365.00. They now have an “overweight” rating on the stock.
• 4/24/2024 – Spotify Technology had its price target raised by analysts at The Goldman Sachs Group, Inc. from $277.00 to $317.00. They now have a “neutral” rating on the stock.
• 4/24/2024 – Spotify Technology had its “neutral” rating reaffirmed by analysts at Piper Sandler. They now have a $320.00 price target on the stock, up previously from $300.00.
• 4/24/2024 – Spotify Technology had its price target raised by analysts at Guggenheim from $290.00 to $350.00. They now have a “buy” rating on the stock.
• 4/24/2024 – Spotify Technology had its price target raised by analysts at HSBC Holdings plc from $310.00 to $355.00. They now have a “buy” rating on the stock.
• 4/24/2024 – Spotify Technology had its price target raised by analysts at Bank of America Co. from $315.00 to $370.00. They now have a “buy” rating on the stock.
• 4/24/2024 – Spotify Technology had its price target raised by analysts at Benchmark Co. from $325.00 to $375.00. They now have a “buy” rating on the stock.
• 4/24/2024 – Spotify Technology had its price target raised by analysts at Rosenblatt Securities from $315.00 to $396.00. They now have a “buy” rating on the stock.
• 4/23/2024 – Spotify Technology had its price target raised by analysts at Pivotal Research from $390.00 to $400.00. They now have a “buy” rating on the stock.
• 4/22/2024 – Spotify Technology had its price target raised by analysts at Morgan Stanley from $270.00 to $350.00. They now have an “overweight” rating on the stock.
• 4/22/2024 – Spotify Technology had its price target raised by analysts at Macquarie from $300.00 to $330.00. They now have an “outperform” rating on the stock.
• 4/22/2024 – Spotify Technology had its price target raised by analysts at Loop Capital from $165.00 to $250.00. They now have a “hold” rating on the stock.
• 4/22/2024 – Spotify Technology had its price target raised by analysts at Canaccord Genuity Group Inc. from $315.00 to $330.00. They now have a “buy” rating on the stock.
• 4/18/2024 – Spotify Technology had its price target raised by analysts at Benchmark Co. from $290.00 to $325.00. They now have a “buy” rating on the stock.
• 4/17/2024 – Spotify Technology had its price target raised by analysts at The Goldman Sachs Group, Inc. from $235.00 to $277.00. They now have a “neutral” rating on the stock.
• 4/17/2024 – Spotify Technology had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $260.00 to $340.00. They now have a “buy” rating on the stock.
• 4/15/2024 – Spotify Technology had its price target raised by analysts at Raymond James from $260.00 to $320.00. They now have an “outperform” rating on the stock.
• 4/12/2024 – Spotify Technology had its price target raised by analysts at KeyCorp from $300.00 to $350.00. They now have an “overweight” rating on the stock.
• 4/10/2024 – Spotify Technology had its price target raised by analysts at Barclays PLC from $270.00 to $335.00. They now have an “overweight” rating on the stock.
• 4/8/2024 – Spotify Technology had its price target raised by analysts at JPMorgan Chase & Co. from $280.00 to $320.00. They now have an “overweight” rating on the stock.
• 4/5/2024 – Spotify Technology had its price target raised by analysts at UBS Group AG from $274.00 to $375.00. They now have a “buy” rating on the stock.
• 4/5/2024 – Spotify Technology had its price target raised by analysts at Pivotal Research from $330.00 to $390.00. They now have a “buy” rating on the stock.
• 3/27/2024 – Spotify Technology is now covered by analysts at HSBC Holdings plc. They set a “buy” rating and a $310.00 price target on the stock.
• 3/20/2024 – Spotify Technology had its price target raised by analysts at Bank of America Co. from $265.00 to $315.00. They now have a “buy” rating on the stock.

Spotify Technology Price Performance

Shares of SPOT traded up $4.23 during trading hours on Wednesday, hitting $284.67. The stock had a trading volume of 418,817 shares, compared to its average volume of 2,168,119. Spotify Technology S.A. has a 1-year low of $129.23 and a 1-year high of $319.30. The firm has a market capitalization of $54.14 billion, a P/E ratio of -424.87 and a beta of 1.63. The firm has a 50 day simple moving average of $273.02 and a 200-day simple moving average of $221.32.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.42. Spotify Technology had a negative net margin of 0.80% and a negative return on equity of 4.39%. The business had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.87 billion. During the same quarter last year, the firm earned ($1.24) EPS. Equities analysts predict that Spotify Technology S.A. will post 4.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Spotify Technology

Several large investors have recently added to or reduced their stakes in SPOT. Future Financial Wealth Managment LLC bought a new stake in shares of Spotify Technology in the 1st quarter worth approximately $40,000. Pinnacle Bancorp Inc. bought a new stake in shares of Spotify Technology in the 4th quarter worth approximately $29,000. GAMMA Investing LLC bought a new stake in shares of Spotify Technology in the 4th quarter worth approximately $32,000. First Horizon Advisors Inc. raised its holdings in shares of Spotify Technology by 195.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 177 shares of the company’s stock worth $27,000 after purchasing an additional 117 shares during the period. Finally, Spire Wealth Management grew its stake in Spotify Technology by 93.1% in the 1st quarter. Spire Wealth Management now owns 197 shares of the company’s stock valued at $52,000 after buying an additional 95 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.

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.