Spotify Technology (NYSE:SPOT) Price Target Raised to $700.00

Spotify Technology (NYSE:SPOT) had its price objective upped by JPMorgan Chase & Co. from $650.00 to $700.00 in a report released on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other research firms have also recently weighed in on SPOT. Argus reiterated a “buy” rating and set a $600.00 price target on shares of Spotify Technology in a report on Thursday, August 13th. Guggenheim increased their price target on Spotify Technology from $575.00 to $650.00 and gave the company a “buy” rating in a research note on Friday. Barclays raised their price objective on Spotify Technology from $565.00 to $650.00 and gave the company an “overweight” rating in a report on Friday. Morgan Stanley boosted their price objective on Spotify Technology from $610.00 to $640.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Finally, Citizens Jmp reaffirmed a “market outperform” rating and issued a $625.00 target price on shares of Spotify Technology in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $620.07.

Spotify Technology Trading Down 0.1%

Shares of NYSE SPOT opened at $583.84 on Friday. The company has a market cap of $120.20 billion, a price-to-earnings ratio of 38.71, a PEG ratio of 1.81 and a beta of 1.61. Spotify Technology has a 12 month low of $405.00 and a 12 month high of $676.67. The stock has a 50-day moving average price of $526.60 and a two-hundred day moving average price of $497.97.

Spotify Technology (NYSE:SPOT) last posted its earnings results on Tuesday, August 4th. The company reported $3.03 EPS for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.13). The company had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.47 billion. Spotify Technology had a return on equity of 35.64% and a net margin of 15.74%. The firm’s revenue was up 13.9% compared to the same quarter last year. During the same period last year, the company posted ($0.42) EPS. On average, sell-side analysts predict that Spotify Technology will post 13.62 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Alex Norström sold 5,436 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $502.10, for a total transaction of $2,729,415.60. Following the completion of the transaction, the chief executive officer owned 66,773 shares of the company’s stock, valued at approximately $33,526,723.30. This trade represents a 7.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Gustav Söderström sold 20,910 shares of Spotify Technology stock in a transaction on Monday, October 12th. The stock was sold at an average price of $530.13, for a total transaction of $11,085,018.30. Following the transaction, the chief executive officer owned 19,908 shares in the company, valued at approximately $10,553,828.04. This trade represents a 51.23% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 68,092 shares of company stock worth $35,762,410 over the last three months. Insiders own 0.40% of the company’s stock.

Institutional Trading of Spotify Technology

Institutional investors have recently modified their holdings of the business. Kingswood Wealth Advisors LLC increased its holdings in Spotify Technology by 66.3% in the third quarter. Kingswood Wealth Advisors LLC now owns 1,196 shares of the company’s stock valued at $583,000 after purchasing an additional 477 shares during the period. Signaturefd LLC lifted its holdings in Spotify Technology by 19.8% during the 3rd quarter. Signaturefd LLC now owns 4,675 shares of the company’s stock worth $2,279,000 after buying an additional 773 shares during the period. Citizens Financial Group Inc. RI lifted its holdings in Spotify Technology by 10.0% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 2,254 shares of the company’s stock worth $1,099,000 after buying an additional 205 shares during the period. Simplicity Wealth LLC grew its position in shares of Spotify Technology by 6.9% in the 3rd quarter. Simplicity Wealth LLC now owns 899 shares of the company’s stock valued at $438,000 after buying an additional 58 shares during the last quarter. Finally, Evergreen Capital Management LLC grew its position in shares of Spotify Technology by 10.6% in the 3rd quarter. Evergreen Capital Management LLC now owns 2,879 shares of the company’s stock valued at $1,403,000 after buying an additional 276 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

More Spotify Technology News

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

• Positive Sentiment: Spotify reported 306 million premium subscribers in the third quarter, up 9% year over year and 1 million above its guidance. Monthly active users rose 11% to 788 million, with growth across all regions. Spotify Stock Jumps as Subscriber Growth Beats Expectations
• Positive Sentiment: Revenue increased roughly 16% year over year to about €4.97 billion, while gross margin expanded 140 basis points to 33% and operating income exceeded company guidance. Spotify expects fourth-quarter operating profit above Wall Street expectations and projects revenue of approximately €6.0 billion. Spotify forecasts fourth-quarter profit above estimates on AI bets
• Positive Sentiment: Management highlighted AI-powered personalization, including its “taste model,” as a way to increase listening, reduce churn and support pricing power. It also expects moderating expenses and continued margin expansion, with long-term targets of more than 20% operating margin and 35%–40% gross margin by 2030. Spotify Soars After Earnings as the Company Touts AI Benefits and Moderating Costs
• Positive Sentiment: Several analysts raised their targets following the results. Morgan Stanley and JPMorgan lifted targets to $700 with overweight ratings, while Wells Fargo, Barclays, Oppenheimer and Guggenheim also raised targets to $650–$660. Spotify Analysts Raise Their Forecasts Following Q3 Earnings
• Neutral Sentiment: Spotify’s headline results were mixed: quarterly EPS of roughly $2.78–$2.85 missed consensus near $3.10–$3.18, while revenue was slightly below estimates. Piper Sandler maintained a neutral rating with a $580 target, and Cantor Fitzgerald maintained neutral at $550.
• Negative Sentiment: TD Cowen reaffirmed a hold rating with a $525 price target, and some newly raised targets remain below the current market valuation, signaling concerns that much of the subscriber and AI optimism may already be reflected in SPOT shares.

Spotify Technology Company Profile

Spotify Technology SA is an audio streaming company that operates the Spotify platform, offering users access to music, podcasts and audiobooks through internet-connected devices. Its catalog includes licensed recordings from music labels and artists, as well as podcasts and other audio content from creators and publishers.

Spotify provides both an ad-supported service and subscription-based Premium plans. Premium subscribers generally receive ad-free listening and additional features, while the advertising-supported service allows users to access content without a paid subscription.