The Latest Breaking News from Spotify Technology

Spotify Technology is the IBD Stock Of The Day as the music and podcast streaming service focuses on improving its profitability.

Streaming music leader Spotify beat estimates for new subscribers and total listeners in the second quarter but posted a larger-than-expected loss.

Over the past 3 months, 14 analysts have published their opinion on Spotify Technology (NYSE:SPOT) stock. These analysts are typically employed by large Wall Street banks and tasked with understanding a company's business to predict how a stock will trade over the upcoming year.

Upgrades

Spotify Technology (NYSE: SPOT) is headed to the metaverse with the help of a video game company.

 

Guggenheim downgraded its rating of Spotify Technology (NYSE:SPOT) to Neutral with a price target of $95.00, changing its price target from $200.00 to $95.00. Shares of Spotify Technology are trading down 12.12% over the last 24 hours, at $97.03 per share.

Someone with a lot of money to spend has taken a bearish stance on Spotify Technology (NYSE:SPOT). And retail traders should know. We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Streaming music leader Spotify Technology beat financial targets for the first quarter but its subscriber numbers missed.