Bank Pictet & Cie Europe AG Purchases Shares of 2,215 Spotify Technology $SPOT

Key Points

• Bank Pictet & Cie Europe AG has purchased 2,215 shares of Spotify Technology, valued at approximately $1.7 million, during the second quarter.
• Spotify reported a loss of $0.42 EPS for the last quarter, significantly missing analysts' expectations, despite revenue of $4.94 billion exceeding estimates.
• Multiple research firms have raised their price targets for Spotify, with Pivotal Research setting a new target of $900.00, reflecting a positive outlook on the company.

Bank Pictet & Cie Europe AG purchased a new position in shares of Spotify Technology (NYSE:SPOT - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,215 shares of the company's stock, valued at approximately $1,700,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Tsfg LLC acquired a new stake in Spotify Technology during the first quarter worth about $28,000. Copia Wealth Management purchased a new stake in Spotify Technology in the 4th quarter worth approximately $29,000. Cornerstone Planning Group LLC grew its stake in shares of Spotify Technology by 512.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 49 shares of the company's stock worth $29,000 after purchasing an additional 41 shares during the period. North Star Investment Management Corp. increased its holdings in shares of Spotify Technology by 52.8% during the 1st quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock valued at $30,000 after purchasing an additional 19 shares in the last quarter. Finally, Truvestments Capital LLC acquired a new position in shares of Spotify Technology in the 1st quarter valued at $34,000. Institutional investors and hedge funds own 84.09% of the company's stock.

Spotify Technology Trading Up 0.5%

SPOT stock opened at $712.03 on Friday. Spotify Technology has a 12-month low of $362.31 and a 12-month high of $785.00. The business's 50-day moving average is $693.65 and its 200 day moving average is $658.04. The stock has a market cap of $145.76 billion, a price-to-earnings ratio of 172.82, a PEG ratio of 3.05 and a beta of 1.71.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported ($0.42) EPS for the quarter, missing analysts' consensus estimates of $2.00 by ($2.42). The firm had revenue of $4.94 billion for the quarter, compared to analyst estimates of $4.29 billion. Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. Spotify Technology's revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.33 EPS. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, equities analysts forecast that Spotify Technology will post 10.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on SPOT. Pivotal Research raised their price target on shares of Spotify Technology from $800.00 to $900.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. Sanford C. Bernstein raised their target price on Spotify Technology from $825.00 to $840.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. JPMorgan Chase & Co. lifted their price target on Spotify Technology from $730.00 to $780.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Canaccord Genuity Group upped their price target on Spotify Technology from $775.00 to $850.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Spotify Technology from $700.00 to $775.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $726.84.

About Spotify Technology

Spotify Technology SA, together with its subsidiaries, provides audio streaming subscription services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.

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