Cantor Fitzgerald Lowers Spotify Technology (NYSE:SPOT) Price Target to $615.00

Spotify Technology (NYSE:SPOT) had its price target lowered by research analysts at Cantor Fitzgerald from $675.00 to $615.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 14.07% from the company’s previous close.

A number of other equities analysts also recently weighed in on the company. Barclays reduced their price target on Spotify Technology from $750.00 to $700.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. The Goldman Sachs Group lowered shares of Spotify Technology from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $765.00 to $770.00 in a research report on Tuesday, September 30th. Pivotal Research decreased their target price on shares of Spotify Technology from $900.00 to $875.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. BNP Paribas Exane started coverage on shares of Spotify Technology in a research report on Tuesday, September 16th. They set an “outperform” rating and a $900.00 price target on the stock. Finally, BNP Paribas upgraded shares of Spotify Technology to a “strong-buy” rating in a research note on Tuesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $754.90.

Spotify Technology Price Performance

SPOT opened at $539.15 on Thursday. The business’s 50-day moving average price is $593.15 and its two-hundred day moving average price is $660.60. Spotify Technology has a 1 year low of $451.43 and a 1 year high of $785.00. The company has a market capitalization of $111.01 billion, a price-to-earnings ratio of 84.77, a P/E/G ratio of 0.99 and a beta of 1.66.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $3.83 earnings per share for the quarter, topping the consensus estimate of $1.87 by $1.96. The company had revenue of $5.01 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%.Spotify Technology’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.45 earnings per share. Sell-side analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Spotify Technology

Institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank bought a new position in Spotify Technology during the second quarter worth about $768,915,000. Capital World Investors lifted its position in shares of Spotify Technology by 40.7% in the third quarter. Capital World Investors now owns 2,730,713 shares of the company’s stock valued at $1,906,260,000 after buying an additional 789,755 shares during the last quarter. Capital Research Global Investors bought a new position in shares of Spotify Technology during the 3rd quarter worth approximately $512,190,000. Principal Financial Group Inc. increased its holdings in shares of Spotify Technology by 3,534.9% during the 3rd quarter. Principal Financial Group Inc. now owns 571,474 shares of the company’s stock worth $398,889,000 after acquiring an additional 555,752 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of Spotify Technology by 22.7% during the 2nd quarter. Fisher Asset Management LLC now owns 2,489,013 shares of the company’s stock worth $1,909,920,000 after acquiring an additional 460,115 shares during the last quarter. 84.09% of the stock is owned by institutional investors.

More Spotify Technology News

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

• Positive Sentiment: Spotify launched social features — “Listening Activity” and “Request to Jam” — designed to boost real-time sharing and collaboration, which could increase user engagement and retention. Spotify Adds ‘Listening Activity’ and ‘Request to Jam’ features: Here’s how they work
• Positive Sentiment: Spotify lowered criteria for video podcast monetization, broadening creator eligibility — this can expand creator supply and ad/subscription monetization opportunities. Spotify lowers criteria for video podcast monetisation. Check eligibility
• Neutral Sentiment: UBS trimmed its price target from $850 to $800 but kept a Buy rating — still implies significant upside, softening the negative impact of the cut. Benzinga
• Neutral Sentiment: Guggenheim reduced its target to $750 (from $800) while maintaining a Buy — another moderation of expectations rather than a downgrade. Benzinga
• Neutral Sentiment: Analyst-coverage summaries show mixed views across firms; useful to watch consensus revisions for guidance on future price moves. Where Spotify Technology Stands With Analysts
• Negative Sentiment: Cantor Fitzgerald cut its price target from $675 to $615 and moved to a Neutral rating — a clear downgrade signal that likely contributed to downward pressure on the stock. Benzinga

About Spotify Technology

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.