Spotify Technology (NYSE:SPOT) Receives “Neutral” Rating from Rosenblatt Securities

Rosenblatt Securities reaffirmed their neutral rating on shares of Spotify Technology (NYSE:SPOT) in a research note released on Wednesday morning,Benzinga reports. The firm currently has a $679.00 target price on the stock.

A number of other research analysts have also weighed in on the company. Phillip Securities upgraded Spotify Technology from a “moderate sell” rating to a “hold” rating in a report on Monday, August 4th. UBS Group decreased their price target on shares of Spotify Technology from $895.00 to $850.00 and set a “buy” rating on the stock in a research note on Wednesday, July 30th. Argus assumed coverage on shares of Spotify Technology in a research report on Monday. They set a “buy” rating and a $845.00 price target on the stock. Benchmark dropped their price objective on shares of Spotify Technology from $840.00 to $800.00 and set a “buy” rating for the company in a research note on Wednesday, July 30th. Finally, The Goldman Sachs Group lowered shares of Spotify Technology from a “buy” rating to a “neutral” rating and raised their target price for the stock from $765.00 to $770.00 in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Spotify Technology presently has an average rating of “Moderate Buy” and a consensus price target of $731.16.

Spotify Technology Trading Up 0.6%

SPOT stock opened at $702.00 on Wednesday. Spotify Technology has a 12-month low of $362.31 and a 12-month high of $785.00. The business’s 50-day moving average is $695.53 and its 200 day moving average is $662.76. The stock has a market cap of $143.71 billion, a price-to-earnings ratio of 170.39, a PEG ratio of 3.00 and a beta of 1.67.

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

Hedge Funds Weigh In On Spotify Technology

A number of hedge funds have recently modified their holdings of the business. Joel Isaacson & Co. LLC lifted its position in Spotify Technology by 1.0% in the second quarter. Joel Isaacson & Co. LLC now owns 1,551 shares of the company’s stock valued at $1,190,000 after buying an additional 15 shares during the last quarter. Ignite Planners LLC raised its stake in shares of Spotify Technology by 2.4% in the 2nd quarter. Ignite Planners LLC now owns 637 shares of the company’s stock valued at $489,000 after acquiring an additional 15 shares during the period. Hartford Investment Management Co. lifted its holdings in shares of Spotify Technology by 1.1% in the 1st quarter. Hartford Investment Management Co. now owns 1,449 shares of the company’s stock worth $797,000 after acquiring an additional 16 shares during the last quarter. Stonekeep Investments LLC boosted its position in shares of Spotify Technology by 2.1% during the 2nd quarter. Stonekeep Investments LLC now owns 773 shares of the company’s stock worth $593,000 after purchasing an additional 16 shares during the period. Finally, Moody National Bank Trust Division increased its holdings in Spotify Technology by 0.5% in the 2nd quarter. Moody National Bank Trust Division now owns 2,931 shares of the company’s stock valued at $2,249,000 after purchasing an additional 16 shares during the last quarter. 84.09% of the stock is currently 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.