Spotify Technology (NYSE:SPOT) Stock Keeps Hold Rating at TD Cowen

Spotify Technology (NYSE:SPOT)‘s stock had its “hold” rating reiterated by equities research analysts at TD Cowen in a research note issued on Friday, Benzinga reports. They currently have a $525.00 target price on the stock. TD Cowen‘s price target indicates a potential downside of 9.62% from the company’s previous close.

SPOT has been the subject of a number of other reports. Guggenheim boosted their price objective on Spotify Technology from $575.00 to $650.00 and gave the company a “buy” rating in a research report on Friday. Benchmark dropped their price objective on Spotify Technology from $695.00 to $650.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. Cantor Fitzgerald increased their price objective on Spotify Technology from $490.00 to $550.00 and gave the stock a “neutral” rating in a research report on Friday. Phillip Securities raised Spotify Technology to a “buy” rating and set a $650.00 price target for the company in a research report on Tuesday, August 11th. Finally, Citizens Jmp reissued a “market outperform” rating and set a $625.00 price target on shares of Spotify Technology in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Spotify Technology currently has a consensus rating of “Moderate Buy” and an average price target of $620.07.

Spotify Technology Trading Down 0.5%

Shares of Spotify Technology stock traded down $2.80 during trading on Friday, hitting $580.86. 1,263,238 shares of the stock traded hands, compared to its average volume of 2,199,386. The firm has a market cap of $119.59 billion, a P/E ratio of 36.14, a price-to-earnings-growth ratio of 1.63 and a beta of 1.61. Spotify Technology has a 52-week low of $405.00 and a 52-week high of $676.67. The stock’s fifty day simple moving average is $525.20 and its 200 day simple moving average is $497.27.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $3.03 earnings per share for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.13). The company had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.47 billion. Spotify Technology had a net margin of 18.44% and a return on equity of 41.39%. Spotify Technology’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.42) EPS. As a group, equities analysts expect that Spotify Technology will post 13.66 EPS for the current year.

Insider Buying and Selling

In related news, CEO Gustav Söderström sold 20,913 shares of the stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $544.19, for a total value of $11,380,645.47. Following the completion of the transaction, the chief executive officer directly owned 20,025 shares of the company’s stock, valued at $10,897,404.75. This represents a 51.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Alex Norström sold 5,436 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $502.10, for a total value of $2,729,415.60. Following the completion of the sale, the chief executive officer owned 66,773 shares of the company’s stock, valued at $33,526,723.30. This trade represents a 7.53% decrease in their ownership of the stock. 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 sold a total of 68,092 shares of company stock valued at $35,762,410 over the last three months. Corporate insiders own 0.40% of the company’s stock.

Institutional Trading of Spotify Technology

A number of hedge funds have recently modified their holdings of SPOT. Gibbs Wealth Management increased its stake in shares of Spotify Technology by 42.9% in the third quarter. Gibbs Wealth Management now owns 892 shares of the company’s stock worth $435,000 after acquiring an additional 268 shares during the last quarter. Wedbush Securities Inc. increased its position in Spotify Technology by 17.5% during the third quarter. Wedbush Securities Inc. now owns 1,993 shares of the company’s stock worth $971,000 after buying an additional 297 shares during the last quarter. Atala Financial Inc increased its position in Spotify Technology by 70.4% during the third quarter. Atala Financial Inc now owns 1,208 shares of the company’s stock worth $589,000 after buying an additional 499 shares during the last quarter. Sterling Capital Management LLC increased its position in Spotify Technology by 28.1% during the third quarter. Sterling Capital Management LLC now owns 5,312 shares of the company’s stock worth $2,589,000 after buying an additional 1,164 shares during the last quarter. Finally, Washington Trust Advisors Inc. acquired a new stake in shares of Spotify Technology in the third quarter valued at about $62,000. Hedge funds and other 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: Spotify reported 306 million premium subscribers, up 9% year over year and one million above guidance. Monthly active users rose 11% to 788 million, with growth across all regions. Spotify Stock Surges on Q3 Subscriber Beat And Bullish Forecast
• Positive Sentiment: Revenue increased approximately 16% year over year to €4.97 billion, while gross margin expanded to 33% and operating income exceeded company guidance. Spotify expects further margin improvement as expense growth moderates. Spotify revenue rises 16% as subscribers and margins improve
• Positive Sentiment: Management highlighted advertising recovery, AI-powered personalization through its “taste model,” audiobooks and AI-agent integrations as potential growth drivers. The company said AI is helping accelerate product launches without increasing headcount significantly. Spotify Q3 Earnings Call Highlights Ad Recovery and Cost Control
• Positive Sentiment: Several analysts raised their price targets following the results, including Wells Fargo to $660, Barclays and Guggenheim to $650, and Citizens JMP to $625, generally maintaining bullish ratings. Spotify Analysts Raise Their Forecasts Following Q3 Earnings
• Neutral Sentiment: Spotify guided to roughly $6.0 billion of fourth-quarter revenue, broadly matching consensus. It also expects approximately 818 million MAUs and 316 million premium subscribers, implying continued growth.
• Negative Sentiment: Quarterly EPS missed analyst expectations, and revenue was slightly below estimates. The earnings shortfall contrasts with the strong subscriber performance and could limit near-term upside. Spotify Q3 Earnings Miss Estimates
• Negative Sentiment: Not all analysts turned bullish: TD Cowen reaffirmed a Hold rating with a $525 target, while Cantor Fitzgerald maintained Neutral with a $550 target, both below the prevailing share price. TD Cowen Spotify Rating

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.