Spotify Technology (NYSE:SPOT) Upgraded at DZ Bank

DZ Bank upgraded shares of Spotify Technology (NYSE:SPOT) from a hold rating to a strong-buy rating in a research report released on Tuesday morning,Zacks.com reports.

SPOT has been the topic of a number of other research reports. Oppenheimer increased their price target on shares of Spotify Technology from $750.00 to $825.00 and gave the stock an “outperform” rating in a research note on Monday, August 18th. Guggenheim reaffirmed a “buy” rating and issued a $850.00 target price on shares of Spotify Technology in a research report on Wednesday, September 3rd. KeyCorp reduced their target price on Spotify Technology from $860.00 to $830.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. Morgan Stanley dropped their price target on Spotify Technology from $850.00 to $800.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. Finally, The Goldman Sachs Group lowered Spotify Technology from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $765.00 to $770.00 in a research note on Tuesday, September 30th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $729.94.

Spotify Technology Trading Down 0.2%

Spotify Technology stock opened at $618.61 on Tuesday. The stock has a fifty day moving average price of $686.43 and a 200 day moving average price of $681.91. Spotify Technology has a 52 week low of $391.42 and a 52 week high of $785.00. The firm has a market capitalization of $126.63 billion, a P/E ratio of 97.27, a PEG ratio of 3.09 and a beta of 1.67.

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

Hedge Funds Weigh In On Spotify Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Knuff & Co LLC purchased a new stake in shares of Spotify Technology during the second quarter valued at approximately $27,000. Total Investment Management Inc. purchased a new stake in Spotify Technology during the 2nd quarter worth $29,000. Heartwood Wealth Advisors LLC purchased a new stake in Spotify Technology during the 3rd quarter worth $27,000. Greykasell Wealth Strategies Inc. lifted its holdings in Spotify Technology by 3,800.0% in the 3rd quarter. Greykasell Wealth Strategies Inc. now owns 39 shares of the company’s stock worth $27,000 after buying an additional 38 shares in the last quarter. Finally, Sound Income Strategies LLC boosted its position in Spotify Technology by 156.3% in the 2nd quarter. Sound Income Strategies LLC now owns 41 shares of the company’s stock valued at $31,000 after buying an additional 25 shares during the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.

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.