Spotify Technology (NYSE:SPOT) Now Covered by Analysts at BNP Paribas Exane

BNP Paribas Exane began coverage on shares of Spotify Technology (NYSE:SPOT) in a report issued on Tuesday morning, MarketBeat.com reports. The brokerage issued an outperform rating and a $900.00 target price on the stock.

A number of other research analysts also recently weighed in on the company. Canaccord Genuity Group upped their price target on Spotify Technology from $775.00 to $850.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. Oppenheimer upped their target price on Spotify Technology from $750.00 to $825.00 and gave the stock an “outperform” rating in a research report on Monday, August 18th. Rosenblatt Securities lowered their price objective on shares of Spotify Technology from $703.00 to $679.00 and set a “neutral” rating on the stock in a report on Wednesday, July 30th. JPMorgan Chase & Co. upped their price objective on shares of Spotify Technology from $730.00 to $780.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Finally, Citigroup upped their target price on shares of Spotify Technology from $715.00 to $750.00 and gave the stock a “neutral” rating in a report on Tuesday, September 9th. Twenty-one analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $726.84.

Spotify Technology Stock Up 0.1%

Spotify Technology stock opened at $703.85 on Tuesday. The firm’s fifty day moving average is $692.48 and its 200 day moving average is $650.65. Spotify Technology has a 12-month low of $339.28 and a 12-month high of $785.00. The company has a market capitalization of $144.09 billion, a PE ratio of 170.84, a PEG ratio of 3.02 and a beta of 1.71.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data on Tuesday, July 29th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of $2.00 by ($2.42). Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The company had revenue of $4.94 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the prior year, the company posted $1.33 EPS. Spotify Technology’s revenue for the quarter was up 10.1% on a year-over-year basis. Spotify Technology has set its Q3 2025 guidance at EPS. Sell-side analysts expect that Spotify Technology will post 10.3 EPS for the current fiscal year.

Institutional Trading of Spotify Technology

A number of institutional investors and hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. increased its position in shares of Spotify Technology by 1,151.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company’s stock valued at $957,494,000 after purchasing an additional 1,601,653 shares during the last quarter. Jennison Associates LLC increased its holdings in Spotify Technology by 42.3% during the first quarter. Jennison Associates LLC now owns 4,247,940 shares of the company’s stock worth $2,336,494,000 after buying an additional 1,262,614 shares during the last quarter. Norges Bank purchased a new stake in shares of Spotify Technology during the 2nd quarter worth approximately $768,915,000. GAMMA Investing LLC increased its stake in shares of Spotify Technology by 75,856.5% during the 1st quarter. GAMMA Investing LLC now owns 717,789 shares of the company’s stock worth $394,805,000 after purchasing an additional 716,844 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Spotify Technology during the 1st quarter worth approximately $383,139,000. 84.09% of the stock is owned by hedge funds and other institutional investors.

About Spotify Technology

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.