Spotify Technology (NYSE:SPOT) Given New $660.00 Price Target at Wells Fargo & Company

Spotify Technology (NYSE:SPOT) had its price target upped by research analysts at Wells Fargo & Company from $570.00 to $660.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 15.13% from the company’s previous close.

SPOT has been the topic of a number of other reports. TD Cowen reaffirmed a “hold” rating and issued a $525.00 price objective on shares of Spotify Technology in a research note on Friday. Argus restated a “buy” rating and issued a $600.00 price target on shares of Spotify Technology in a research report on Thursday, August 13th. Morgan Stanley lifted their price objective on Spotify Technology from $610.00 to $640.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Stonex Financia downgraded Spotify Technology from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 14th. Finally, KeyCorp cut their target price on Spotify Technology from $680.00 to $660.00 and set an “overweight” rating on the stock in a research note on Thursday, October 1st. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Spotify Technology has an average rating of “Moderate Buy” and an average target price of $618.34.

Spotify Technology Price Performance

Shares of NYSE SPOT traded down $10.38 during mid-day trading on Friday, hitting $573.28. The company’s stock had a trading volume of 674,463 shares, compared to its average volume of 2,196,025. The stock has a market cap of $118.03 billion, a price-to-earnings ratio of 35.79, a price-to-earnings-growth ratio of 1.63 and a beta of 1.61. Spotify Technology has a one year low of $405.00 and a one year high of $676.67. The company’s fifty day simple moving average is $525.20 and its 200-day simple moving average is $497.27.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $3.03 earnings per share for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.13). The business had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.47 billion. Spotify Technology had a return on equity of 41.39% and a net margin of 18.44%. The company’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the firm earned ($0.42) earnings per share. On average, sell-side analysts predict that Spotify Technology will post 13.66 EPS for the current year.

Insider Buying and Selling at Spotify Technology

In other Spotify Technology news, CEO Alex Norström sold 5,436 shares of Spotify Technology stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $502.10, for a total transaction of $2,729,415.60. Following the transaction, the chief executive officer directly owned 66,773 shares in the company, valued at approximately $33,526,723.30. The trade was a 7.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Gustav Söderström sold 20,910 shares of the business’s stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $530.13, for a total value of $11,085,018.30. Following the completion of the transaction, the chief executive officer directly owned 19,908 shares of the company’s stock, valued at approximately $10,553,828.04. The trade was a 51.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 68,092 shares of company stock worth $35,762,410 in the last ninety days. 0.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Spotify Technology

Institutional investors and hedge funds have recently modified their holdings of the business. Gibbs Wealth Management lifted its stake in Spotify Technology by 42.9% in the third quarter. Gibbs Wealth Management now owns 892 shares of the company’s stock valued at $435,000 after buying an additional 268 shares in the last quarter. Wedbush Securities Inc. boosted its holdings in shares of Spotify Technology by 17.5% in the third quarter. Wedbush Securities Inc. now owns 1,993 shares of the company’s stock valued at $971,000 after buying an additional 297 shares during the period. Atala Financial Inc increased its position in shares of Spotify Technology by 70.4% during the third quarter. Atala Financial Inc now owns 1,208 shares of the company’s stock worth $589,000 after acquiring an additional 499 shares in the last quarter. Sterling Capital Management LLC increased its position in shares of Spotify Technology by 28.1% during the third quarter. Sterling Capital Management LLC now owns 5,312 shares of the company’s stock worth $2,589,000 after acquiring an additional 1,164 shares in the last quarter. Finally, Washington Trust Advisors Inc. bought a new stake in shares of Spotify Technology during the third quarter worth $62,000. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology News Summary

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

• Positive Sentiment: Subscriber growth exceeded expectations: Premium subscribers rose 9% year over year to 306 million, one million above Spotify’s guidance, while monthly active users increased 11% to 788 million. Management expects to reach approximately 316 million premium subscribers and 818 million monthly active users in the fourth quarter. Spotify Stock Surges on Q3 Subscriber Beat and Bullish Forecast
• Positive Sentiment: Profitability trends improved: Third-quarter revenue rose roughly 16% year over year to about €4.97 billion, operating income reached €672 million, and gross margin expanded to 33%. Spotify expects fourth-quarter operating income and gross margin to remain stronger as costs and investment intensity moderate. Spotify revenue rises as subscribers and margins improve
• Positive Sentiment: AI is viewed as a future growth catalyst: Spotify highlighted its AI-powered “taste model,” personalized experiences and efforts to make its service accessible through AI agents. The company said AI is accelerating feature development without increasing headcount, potentially supporting engagement, retention and long-term margin expansion. Spotify’s current AI bet
• Positive Sentiment: Analyst sentiment improved: Guggenheim raised its price target to $650 and assigned a Buy rating, while Barclays also lifted its target to $650 and maintained Overweight. Guggenheim Spotify recommendations
• Neutral Sentiment: Mixed quarterly results: Adjusted earnings per share and revenue were slightly below consensus, although revenue growth remained healthy and subscriber and margin metrics were stronger than expected. Spotify forecasts fourth-quarter profit above estimates
• Negative Sentiment: Valuation and analyst caution remain risks: Cantor Fitzgerald raised its target to $550 but retained a Neutral rating, implying limited upside from the referenced price level. The earnings miss could also pressure the stock if subscriber momentum or AI-related benefits fail to translate into sustained profits. Cantor Fitzgerald Spotify recommendations

About Spotify Technology

Spotify Technology SA is an audio streaming company that operates the Spotify platform, offering users access to music, podcasts and audiobooks through internet-connected devices. Its catalog includes licensed recordings from music labels and artists, as well as podcasts and other audio content from creators and publishers.

Spotify provides both an ad-supported service and subscription-based Premium plans. Premium subscribers generally receive ad-free listening and additional features, while the advertising-supported service allows users to access content without a paid subscription.