Spotify Technology (NYSE:SPOT) Upgraded at Phillip Securities

Phillip Securities upgraded shares of Spotify Technology (NYSE:SPOT) from a hold rating to a moderate buy rating in a report released on Monday,Zacks.com reports.

A number of other research firms have also recently issued reports on SPOT. BNP Paribas raised shares of Spotify Technology to a “strong-buy” rating in a research report on Tuesday, September 16th. Wall Street Zen raised Spotify Technology from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Weiss Ratings reissued a “hold (c-)” rating on shares of Spotify Technology in a research note on Wednesday, October 8th. BNP Paribas Exane started coverage on Spotify Technology in a report on Tuesday, September 16th. They set an “outperform” rating and a $900.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their target price on Spotify Technology from $740.00 to $805.00 and gave the stock an “overweight” rating in a research report on Monday, September 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $758.86.

Spotify Technology Price Performance

NYSE SPOT opened at $647.14 on Monday. The business has a 50 day simple moving average of $681.87 and a 200 day simple moving average of $683.58. Spotify Technology has a one year low of $443.21 and a one year high of $785.00. The stock has a market capitalization of $133.24 billion, a P/E ratio of 101.75, a P/E/G ratio of 2.11 and a beta of 1.67.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $3.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $1.96. The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.23 billion. Spotify Technology had a return on equity of 21.68% and a net margin of 8.46%.The company’s revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.45 earnings per share. Spotify Technology has set its Q4 2025 guidance at EPS. Equities analysts expect that Spotify Technology will post 10.3 earnings per share for the current year.

Institutional Trading of Spotify Technology

Institutional investors and hedge funds have recently made changes to their positions in the company. Sapient Capital LLC bought a new position in shares of Spotify Technology during the 2nd quarter worth $322,000. Swedbank AB boosted its holdings in Spotify Technology by 1.4% in the 1st quarter. Swedbank AB now owns 959,587 shares of the company’s stock valued at $527,802,000 after purchasing an additional 13,458 shares during the period. Legacy Capital Group California Inc. raised its stake in Spotify Technology by 110.9% in the second quarter. Legacy Capital Group California Inc. now owns 3,896 shares of the company’s stock valued at $2,990,000 after purchasing an additional 2,049 shares in the last quarter. Harbor Investment Advisory LLC lifted its stake in Spotify Technology by 36.0% during the second quarter. Harbor Investment Advisory LLC now owns 2,054 shares of the company’s stock worth $1,576,000 after purchasing an additional 544 shares during the last quarter. Finally, Integrated Wealth Concepts LLC boosted its stake in Spotify Technology by 39.8% in the first quarter. Integrated Wealth Concepts LLC now owns 2,702 shares of the company’s stock worth $1,486,000 after buying an additional 769 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

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.