Sanford C. Bernstein Lowers Spotify Technology (NYSE:SPOT) Price Target to $650.00

Spotify Technology (NYSE:SPOT) had its price objective lowered by equities research analysts at Sanford C. Bernstein from $830.00 to $650.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Sanford C. Bernstein’s price target indicates a potential upside of 28.05% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Pivotal Research lowered their price objective on shares of Spotify Technology from $900.00 to $875.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. UBS Group reduced their target price on Spotify Technology from $850.00 to $800.00 and set a “buy” rating for the company in a research note on Friday, January 9th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Spotify Technology in a research note on Monday, December 29th. Wall Street Zen raised Spotify Technology from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Citizens Jmp initiated coverage on Spotify Technology in a research note on Wednesday, December 17th. They issued a “market outperform” rating and a $800.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $747.23.

Spotify Technology Stock Down 4.0%

SPOT opened at $507.61 on Wednesday. The company has a market cap of $104.51 billion, a P/E ratio of 79.81, a price-to-earnings-growth ratio of 1.00 and a beta of 1.66. The firm’s 50-day moving average price is $584.96 and its 200-day moving average price is $654.12. Spotify Technology has a 52-week low of $475.01 and a 52-week high of $785.00.

Spotify Technology (NYSE:SPOT) last released its earnings results on Tuesday, November 4th. The company reported $3.83 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 8.46% and a return on equity of 21.68%. Spotify Technology’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the business earned $1.45 EPS. On average, research analysts anticipate that Spotify Technology will post 10.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Spotify Technology

Institutional investors and hedge funds have recently modified their holdings of the stock. KERR FINANCIAL PLANNING Corp acquired a new stake in Spotify Technology during the third quarter worth about $26,000. Knuff & Co LLC acquired a new position in Spotify Technology in the second quarter valued at approximately $27,000. Heartwood Wealth Advisors LLC purchased a new stake in Spotify Technology in the 3rd quarter worth approximately $27,000. Greykasell Wealth Strategies Inc. boosted 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 worth $27,000 after purchasing an additional 38 shares in the last quarter. Finally, Total Investment Management Inc. acquired a new stake in shares of Spotify Technology during the 2nd quarter worth approximately $29,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Trending Headlines about Spotify Technology

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

• Positive Sentiment: Spotify announced a price increase for its Premium plan in the U.S., Estonia and Latvia (from $11.99 to $12.99/month), which should boost recurring subscription revenue and support margins. Spotify to raise premium subscription price to $12.99 a month in select markets
• Neutral Sentiment: Sanford C. Bernstein cut its price target from $830 to $650 but kept an “outperform” rating — a sign analysts still see upside but are moderating expectations. Benzinga
• Neutral Sentiment: Coverage highlighting unique Spotify features may support user retention and justify pricing power over time. 5 Spotify features that other music apps can’t match
• Negative Sentiment: Wells Fargo issued a pessimistic forecast for SPOT, adding near-term downside pressure as institutional sentiment cools. Wells Fargo & Company Issues Pessimistic Forecast for Spotify Technology (NYSE:SPOT) Stock Price
• Negative Sentiment: User and artist backlash over AI-generated content (“AI slop”) raises reputational and licensing risks that could pressure engagement or content relationships. ‘It causes further damage to talented musicians’: Spotify users call for streaming giant to stem the tide of AI slop
• Negative Sentiment: Market coverage noted SPOT traded down while the broader market gained, reflecting the combined effect of the above headlines on investor sentiment. Spotify (SPOT) Stock Dips While Market Gains: Key Facts

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.