Spotify Technology (NYSE:SPOT) Raised to Strong-Buy at BNP Paribas

Spotify Technology (NYSE:SPOT) was upgraded by analysts at BNP Paribas to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other research analysts also recently weighed in on the company. The Goldman Sachs Group upped their price target on Spotify Technology from $680.00 to $775.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. Bank of America lifted their price target on shares of Spotify Technology from $700.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, June 26th. Phillip Securities upgraded shares of Spotify Technology from a “moderate sell” rating to a “hold” rating in a report on Monday, August 4th. Pivotal Research raised their target price on Spotify Technology from $800.00 to $900.00 and gave the company a “buy” rating in a report on Tuesday, June 17th. Finally, Barclays reduced their target price on shares of Spotify Technology from $800.00 to $750.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, Spotify Technology presently has a consensus rating of “Moderate Buy” and an average target price of $726.84.

Spotify Technology Stock Performance

Shares of NYSE SPOT opened at $706.98 on Tuesday. Spotify Technology has a 52-week low of $340.37 and a 52-week high of $785.00. The company’s 50 day moving average price is $692.20 and its 200-day moving average price is $651.03. The company has a market capitalization of $144.73 billion, a P/E ratio of 171.60, a price-to-earnings-growth ratio of 3.03 and a beta of 1.71.

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

Hedge Funds Weigh In On Spotify Technology

A number of institutional investors and hedge funds have recently made changes to their positions in SPOT. State Street Corp grew its stake in shares of Spotify Technology by 1.7% in the second quarter. State Street Corp now owns 4,574,228 shares of the company’s stock worth $3,509,988,000 after acquiring an additional 74,256 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Spotify Technology by 42.3% in 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 in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Spotify Technology by 3.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,526,988 shares of the company’s stock valued at $1,939,949,000 after buying an additional 112,553 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Spotify Technology by 22.7% during the second quarter. Fisher Asset Management LLC now owns 2,489,013 shares of the company’s stock valued at $1,909,920,000 after acquiring an additional 460,115 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Spotify Technology by 1,151.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company’s stock worth $957,494,000 after acquiring an additional 1,601,653 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Company Profile

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.