Spotify Technology (NYSE:SPOT) Stock Rating Cut to “Hold” at Stonex Financia

16 Oct 2026, 13:14 by Michael Walen · The Markets Daily

Stonex Financia downgraded shares of Spotify Technology (NYSE:SPOT – Free Report) from a strong-buy rating to a hold rating in a report published on Wednesday,Zacks reports.

A number of other research firms have also weighed in on SPOT. Wall Street Zen lowered shares of Spotify Technology from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Morgan Stanley boosted their price target on Spotify Technology from $610.00 to $640.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Argus reaffirmed a “buy” rating and set a $600.00 price target on shares of Spotify Technology in a research report on Thursday, August 13th. Benchmark lowered their price target on Spotify Technology from $695.00 to $650.00 and set a “buy” rating for the company in a research report on Wednesday, July 22nd. Finally, Cantor Fitzgerald dropped their price objective on Spotify Technology from $530.00 to $490.00 and set a “neutral” rating for the company in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, Spotify Technology presently has an average rating of “Moderate Buy” and a consensus target price of $610.25.

View Our Latest Analysis on SPOT

Spotify Technology Stock Up 1.7%

Shares of Spotify Technology stock opened at $532.69 on Wednesday. The firm has a market cap of $109.67 billion, a PE ratio of 33.17, a price-to-earnings-growth ratio of 1.61 and a beta of 1.61. Spotify Technology has a 12-month low of $405.00 and a 12-month high of $696.95. The company’s fifty day simple moving average is $521.34 and its two-hundred day simple moving average is $495.34.

Spotify Technology (NYSE:SPOT – Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $3.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.13). The firm had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $5.47 billion. Spotify Technology had a net margin of 18.44% and a return on equity of 41.39%. Spotify Technology’s revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.42) EPS. As a group, sell-side analysts expect that Spotify Technology will post 13.77 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Gustav Söderström sold 20,913 shares of the business’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $544.19, for a total transaction of $11,380,645.47. Following the transaction, the chief executive officer owned 20,025 shares in the company, valued at $10,897,404.75. The trade was a 51.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Alex Norström sold 5,436 shares of the 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 completion of the transaction, the chief executive officer directly owned 66,773 shares of the company’s stock, valued at approximately $33,526,723.30. The trade was a 7.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 68,092 shares of company stock worth $35,762,410 in the last quarter. 0.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Milestone Asset Management LLC raised its position in shares of Spotify Technology by 4.9% in the 3rd quarter. Milestone Asset Management LLC now owns 1,194 shares of the company’s stock worth $582,000 after acquiring an additional 56 shares in the last quarter. V Square Quantitative Management LLC grew its stake in Spotify Technology by 30.4% in the third quarter. V Square Quantitative Management LLC now owns 253 shares of the company’s stock worth $123,000 after purchasing an additional 59 shares during the period. Assenagon Asset Management S.A. grew its stake in Spotify Technology by 101.5% in the third quarter. Assenagon Asset Management S.A. now owns 283,703 shares of the company’s stock worth $138,271,000 after purchasing an additional 142,875 shares during the period. Curated Wealth Partners LLC bought a new position in Spotify Technology in the third quarter worth $326,000. Finally, WealthPlan Investment Management LLC raised its holdings in Spotify Technology by 20.6% in the third quarter. WealthPlan Investment Management LLC now owns 860 shares of the company’s stock worth $419,000 after purchasing an additional 147 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology News Roundup

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

Positive Sentiment: Spotify outperformed the broader market in the latest session, suggesting investors may be focusing on its improving profitability and long-term growth prospects ahead of its upcoming earnings report. Why Spotify outpaced the stock market
Positive Sentiment: Baillie Gifford highlighted Spotify’s potential to benefit from artificial-intelligence-driven personalization and deeper listener insights, which could support engagement, targeting and monetization over time. Spotify AI personalization opportunity
Positive Sentiment: Expanded Siri functionality in Apple’s iOS 27 makes Spotify easier to control by voice, potentially improving discovery and usage among iPhone customers. Spotify Siri integration
Neutral Sentiment: StoneX downgraded SPOT to Hold from Buy, citing limited near-term catalysts for revenue per user and higher payments to record labels. The call adds pressure to a stock trading at a premium earnings multiple. StoneX Spotify downgrade
Neutral Sentiment: Spotify is expected to report earnings soon, but analysts anticipate a decline in earnings and see limited evidence of a likely consensus beat. Investors will focus on margins, subscriber trends and management’s outlook. Spotify earnings expectations
Negative Sentiment: Reports that lossless audio is disrupting the Spotify desktop application could hurt customer satisfaction and complicate the rollout of a higher-quality service. Spotify lossless audio issues
Negative Sentiment: CEO Gustav Söderström sold approximately $11.1 million of shares, reducing his direct holdings by more than half. The filing says the sale covered tax withholding on vested equity awards, which limits—but does not eliminate—the negative signaling effect. Spotify CEO SEC filing

Spotify Technology Company Profile

(Get Free Report)

Spotify Technology SA is a global audio streaming company that operates the Spotify platform. The service provides users with access to a broad catalog of music, podcasts and audiobooks, along with personalized recommendations, playlists and other discovery features.

Spotify offers a subscription-based Premium service with enhanced listening features, as well as an ad-supported service available at no direct cost to users. The company generates revenue primarily through Premium subscriptions and advertising, including audio, video and display advertising delivered across its platform.