Spotify Technology (NYSE:SPOT) Price Target Lowered to $430.00 at Cantor Fitzgerald

Spotify Technology (NYSE:SPOT) had its price objective trimmed by Cantor Fitzgerald from $525.00 to $430.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities research analysts have also recently issued reports on the stock. Pivotal Research decreased their price objective on shares of Spotify Technology from $420.00 to $400.00 and set a “hold” rating for the company in a report on Wednesday. Wall Street Zen upgraded shares of Spotify Technology from a “hold” rating to a “buy” rating in a report on Sunday. Moffett Nathanson began coverage on shares of Spotify Technology in a report on Tuesday, January 27th. They issued a “neutral” rating and a $487.00 price objective for the company. Wells Fargo & Company decreased their price objective on shares of Spotify Technology from $650.00 to $640.00 and set an “overweight” rating for the company in a report on Monday, April 13th. Finally, Morgan Stanley began coverage on shares of Spotify Technology in a report on Monday, April 13th. They issued an “overweight” rating and a $630.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $647.68.

Spotify Technology Trading Up 2.4%

NYSE SPOT opened at $444.49 on Wednesday. Spotify Technology has a 1-year low of $405.00 and a 1-year high of $785.00. The company has a market capitalization of $91.51 billion, a PE ratio of 46.11, a price-to-earnings-growth ratio of 1.08 and a beta of 1.70. The firm’s fifty day simple moving average is $500.58 and its 200-day simple moving average is $547.72.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.16 by $2.00. The firm had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.14 billion. Spotify Technology had a net margin of 13.16% and a return on equity of 31.35%. Spotify Technology’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.88 earnings per share. As a group, analysts predict that Spotify Technology will post 15.73 EPS for the current year.

Insider Activity at Spotify Technology

In related news, CEO Gustav Soderstrom sold 20,833 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $473.52, for a total value of $9,864,842.16. Following the completion of the sale, the chief executive officer owned 20,609 shares in the company, valued at approximately $9,758,773.68. This trade represents a 50.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Alex Norstrom sold 5,436 shares of Spotify Technology stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $479.51, for a total value of $2,606,616.36. Following the sale, the chief executive officer directly owned 69,989 shares in the company, valued at approximately $33,560,425.39. This trade represents a 7.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Spotify Technology

A number of institutional investors have recently added to or reduced their stakes in the company. DSM Capital Partners LLC grew its position in Spotify Technology by 4,336.9% during the first quarter. DSM Capital Partners LLC now owns 144,331 shares of the company’s stock worth $69,987,000 after buying an additional 141,078 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new stake in Spotify Technology during the first quarter worth about $672,000. Cvfg LLC acquired a new stake in Spotify Technology during the first quarter worth about $2,680,000. Meitav Investment House Ltd. grew its position in Spotify Technology by 14.2% during the first quarter. Meitav Investment House Ltd. now owns 71,503 shares of the company’s stock worth $34,673,000 after buying an additional 8,888 shares in the last quarter. Finally, Resonant Capital Advisors LLC grew its position in Spotify Technology by 12.3% during the first quarter. Resonant Capital Advisors LLC now owns 687 shares of the company’s stock worth $333,000 after buying an additional 75 shares in the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.

Key Spotify Technology News

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

• Positive Sentiment: Q1 beat on users, revenue and operating income — Spotify reported stronger-than-expected MAU and premium subscriber growth and topped EPS/revenue estimates, which supports the long-term growth story. Business Wire Q1 Release
• Positive Sentiment: Strategic content expansion — Spotify added Peloton fitness classes to Premium globally and is pushing into video/fitness content, which could diversify revenue and improve engagement/margins over time. Bloomberg: Peloton Partnership
• Positive Sentiment: Universal Music’s capital moves include a larger buyback — Universal said it will sell half its Spotify stake but also expand its buyback program to €1bn; the buyback component is supportive for shareholder value even as the stake sale raises near-term supply concerns. Yahoo: Universal Music
• Positive Sentiment: Analyst support remains in places — some firms reaffirmed buy/overweight ratings and at least one (Rosenblatt) issued a contrarian upgrade; Erste even nudged up EPS forecasts, showing disagreement among analysts about the near-term pullback.
• Neutral Sentiment: AI spending: near-term drag, possible long-term catalyst — Management’s heavy AI investments are weighing on short-term margins, but some analysts argue they could trigger a future upgrade cycle if they accelerate product/monetization. MSN: AI investments
• Neutral Sentiment: Content/labeling debate around AI-generated music — User-created tools and questions about labeling AI music are getting attention; this is a reputational/regulatory issue to watch but not an immediate earnings driver. Digital Trends: AI labeling
• Negative Sentiment: Weak Q2 guidance is the main catalyst for the recent selloff — Spotify guided Q2 operating income and premium-subscriber growth below Street expectations, which triggered sharp downside in sentiment despite the Q1 beat. Reuters: Q2 guidance
• Negative Sentiment: Ad-revenue softness and slowing growth worries — Advertiser revenue missed expectations/appears soft, raising concerns about near-term top-line momentum and valuation. MarketBeat: Ad slump
• Negative Sentiment: Broad analyst target cuts — Multiple firms trimmed price targets (Cantor Fitzgerald, Barclays, JPMorgan, Goldman, Wells Fargo, Guggenheim and others), reflecting lower near-term profit expectations and boosting selling pressure. 247WallSt: Price target cuts

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.