Analyst Upgrades Spotify’s Outlook
On July 24, 2025, Oppenheimer upgraded their outlook for Spotify Technology (NYSE:SPOT) from “Perform” to “Outperform.” This move signals increased confidence in the company’s future performance and potential for growth.
Price Target Forecast and Market Expectations
As of July 17, 2025, the average one-year price target for Spotify Technology is $743.01 per share. This forecast ranges from a low of $461.57 to a high of $945.00. The average price target represents an increase of 10.16% from its latest reported closing price of $674.46 per share. Investors are closely watching this development as it suggests strong potential for capital appreciation.
The projected annual revenue for Spotify Technology is $16,799 million, reflecting an increase of 3.52%. However, the projected annual non-GAAP EPS is -0.74, indicating that the company may still be in a phase of reinvestment and expansion rather than immediate profitability.
Fund Sentiment and Institutional Ownership
There are 2,200 funds or institutions reporting positions in Spotify Technology. This is an increase of 253 owners or 12.99% in the last quarter. The average portfolio weight of all funds dedicated to SPOT is 0.74%, up by 3.55% from previous quarters. Despite this, total shares owned by institutions decreased in the last three months by 0.27% to 162,107K shares.
The put/call ratio of SPOT is 1.25, which indicates a bearish outlook among investors. A higher put/call ratio often suggests that more traders are betting on a decline in the stock price.
Major Shareholders’ Activities
Several major institutional investors have recently adjusted their holdings in Spotify:
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Baillie Gifford holds 10,839K shares, representing 5.29% ownership. This is a decrease from 13,158K shares previously, a drop of 21.39%. However, the firm increased its portfolio allocation in SPOT by 15.03% over the last quarter.
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Jpmorgan Chase holds 5,981K shares, representing 2.92% ownership. This is an increase from 5,906K shares previously, a rise of 1.25%. However, the firm decreased its portfolio allocation in SPOT by 87.11% over the last quarter.
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Jennison Associates holds 4,248K shares, representing 2.07% ownership. This is an increase from 2,985K shares previously, a jump of 29.72%. The firm also increased its portfolio allocation in SPOT by 7.33% over the last quarter.
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Massachusetts Financial Services holds 3,527K shares, representing 1.72% ownership. This is an increase from 3,414K shares previously, a rise of 3.19%. The firm increased its portfolio allocation in SPOT by 33.78% over the last quarter.
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VWIGX – Vanguard International Growth Fund Investor Shares holds 3,454K shares, representing 1.68% ownership. This is a decrease from 4,488K shares previously, a drop of 29.93%. The firm decreased its portfolio allocation in SPOT by 0.87% over the last quarter.
About Spotify Technology
Spotify is the world’s most popular audio streaming subscription service, with a community of 345 million Monthly Active Users and 155 million Premium Subscribers. It operates in 93 markets and offers more than 70 million tracks, including over 2 million podcast titles. The platform has transformed how people access and enjoy music and podcasts globally.
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