Guggenheim Cuts Spotify Technology (NYSE:SPOT) Price Target to $750.00

Spotify Technology (NYSE:SPOT) had its price target cut by Guggenheim from $800.00 to $750.00 in a research report report published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

SPOT has been the topic of several other reports. Argus assumed coverage on shares of Spotify Technology in a research report on Monday, September 29th. They issued a “buy” rating and a $845.00 target price on the stock. Wall Street Zen raised shares of Spotify Technology from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. DZ Bank upgraded shares of Spotify Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Erste Group Bank downgraded shares of Spotify Technology from a “buy” rating to a “hold” rating in a research note on Friday, December 5th. Finally, Cantor Fitzgerald increased their target price on Spotify Technology from $640.00 to $675.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, Spotify Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $754.90.

Spotify Technology Stock Down 2.6%

SPOT opened at $539.15 on Thursday. The firm has a market capitalization of $111.01 billion, a P/E ratio of 84.77, a P/E/G ratio of 0.97 and a beta of 1.66. The firm’s 50 day moving average is $593.15 and its 200-day moving average is $659.97. Spotify Technology has a 52-week low of $451.43 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 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $1.96. The firm had revenue of $5.01 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.45 earnings per share. Equities analysts expect that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Spotify Technology

Hedge funds and other institutional investors have recently made changes to their positions in the company. KERR FINANCIAL PLANNING Corp acquired a new position in Spotify Technology during the third quarter worth $26,000. Knuff & Co LLC bought a new stake in shares of Spotify Technology during the 2nd quarter worth about $27,000. Heartwood Wealth Advisors LLC bought a new stake in shares of Spotify Technology during the 3rd quarter worth about $27,000. Greykasell Wealth Strategies Inc. increased its holdings in shares of Spotify Technology by 3,800.0% during the 3rd quarter. Greykasell Wealth Strategies Inc. now owns 39 shares of the company’s stock valued at $27,000 after acquiring an additional 38 shares during the last quarter. Finally, Total Investment Management Inc. acquired a new position in shares of Spotify Technology during the 2nd quarter valued at about $29,000. 84.09% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Spotify Technology

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.