Spotify Technology (NYSE:SPOT) Price Target Lowered to $640.00 at Wells Fargo & Company

Spotify Technology (NYSE:SPOT) had its price objective decreased by Wells Fargo & Company from $650.00 to $640.00 in a report released on Monday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other analysts have also issued reports on the company. Guggenheim lowered their target price on Spotify Technology from $720.00 to $600.00 and set a “buy” rating on the stock in a report on Tuesday, February 24th. Sanford C. Bernstein lowered their target price on Spotify Technology from $830.00 to $650.00 and set an “outperform” rating on the stock in a report on Wednesday, January 14th. Benchmark lowered their target price on Spotify Technology from $860.00 to $760.00 and set a “buy” rating on the stock in a report on Friday, January 16th. Weiss Ratings lowered Spotify Technology from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, February 26th. Finally, Daiwa Securities Group initiated coverage on Spotify Technology in a report on Thursday, March 26th. They issued an “outperform” rating and a $535.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Spotify Technology has a consensus rating of “Moderate Buy” and a consensus price target of $689.33.

Spotify Technology Stock Up 5.8%

SPOT opened at $503.66 on Monday. The firm has a market capitalization of $103.69 billion, a P/E ratio of 52.25, a price-to-earnings-growth ratio of 1.06 and a beta of 1.70. The stock’s 50 day moving average price is $487.20 and its two-hundred day moving average price is $562.34. Spotify Technology has a 12-month low of $405.00 and a 12-month high of $785.00.

Spotify Technology (NYSE:SPOT) last released its earnings results on Wednesday, February 11th. The company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.16 by $2.00. The firm had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.14 billion. Spotify Technology had a return on equity of 31.35% and a net margin of 13.16%.The company’s revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.88 EPS. As a group, analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current year.

Insider Buying and Selling at Spotify Technology

In related news, CEO Alex Norstrom sold 5,436 shares of the business’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $479.51, for a total value of $2,606,616.36. Following the sale, the chief executive officer owned 69,989 shares of the company’s stock, valued at $33,560,425.39. The trade was a 7.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gustav Soderstrom sold 20,833 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $473.52, for a total value of $9,864,842.16. Following the completion of the sale, the chief executive officer directly owned 20,609 shares in the company, valued at approximately $9,758,773.68. This represents a 50.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Spotify Technology

Several institutional investors have recently bought and sold shares of SPOT. KERR FINANCIAL PLANNING Corp bought a new position in Spotify Technology in the 3rd quarter valued at $26,000. Heartwood Wealth Advisors LLC bought a new position in Spotify Technology in the 3rd quarter valued at $27,000. Greykasell Wealth Strategies Inc. raised its position in Spotify Technology by 3,800.0% in the 3rd quarter. Greykasell Wealth Strategies Inc. now owns 39 shares of the company’s stock valued at $27,000 after purchasing an additional 38 shares during the last quarter. Total Investment Management Inc. bought a new position in Spotify Technology in the 2nd quarter valued at $29,000. Finally, Westfuller Advisors LLC bought a new position in Spotify Technology in the 3rd quarter valued at $29,000. Institutional investors own 84.09% of the company’s stock.

Key Stories Impacting Spotify Technology

Here are the key news stories impacting Spotify Technology this week:

• Positive Sentiment: Jefferies maintained a “Buy” and says Spotify is set up well heading into Q1, keeping a $650 price target that signals upside into the next quarters. Proactive Investors
• Positive Sentiment: Morgan Stanley initiated coverage with an “Overweight” rating and a $630 target, adding institutional validation that likely supported buying interest this morning.
• Positive Sentiment: Investors are focusing on recent ad-product enhancements (new formats, split testing, automated bidding) and U.S. price increases for Premium — a combination that boosts subscription ARPU and higher‑margin ad revenue expectations. Quiver Quantitative
• Positive Sentiment: News roundup and analyst commentary aggregated in the press has increased investor confidence ahead of earnings, helping lift the stock. Yahoo Finance
• Neutral Sentiment: Product changes: Spotify added a user control to disable in-app videos — a UX improvement that could improve retention but has limited near-term revenue impact. MSN
• Neutral Sentiment: Patents revealing how Spotify’s shuffle works surfaced — interesting for PR/tech transparency but unlikely to move fundamentals materially. MSN
• Neutral Sentiment: Wells Fargo trimmed its target slightly (from $650 to $640) but kept an Overweight stance — a modest editorial change that still implies significant upside from current levels. Benzinga
• Negative Sentiment: Insider selling was flagged in recent filings (notable executive sales), which may concern some investors about near-term insider conviction. Quiver Quantitative

Spotify Technology Company Profile

Spotify Technology is a digital audio streaming company best known for its on-demand music service and a growing portfolio of spoken-word content. Founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon and launched commercially in 2008, the company offers a cross-platform app that enables users to discover, stream and organize music, podcasts and other audio. Its primary consumer products include a free, ad-supported tier and a paid Spotify Premium subscription that provides ad-free listening, offline playback and higher-quality audio streams.