Synergy Asset Management LLC Buys New Position in Spotify Technology $SPOT

Synergy Asset Management LLC purchased a new position in Spotify Technology (NYSE:SPOT) in the second quarter, HoldingsChannel reports. The firm purchased 297 shares of the company’s stock, valued at approximately $228,000.

Other institutional investors also recently made changes to their positions in the company. Tsfg LLC acquired a new position in shares of Spotify Technology during the 1st quarter valued at $28,000. Cornerstone Planning Group LLC raised its stake in shares of Spotify Technology by 512.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 49 shares of the company’s stock worth $29,000 after buying an additional 41 shares in the last quarter. North Star Investment Management Corp. grew its holdings in Spotify Technology by 52.8% during the first quarter. North Star Investment Management Corp. now owns 55 shares of the company’s stock worth $30,000 after acquiring an additional 19 shares during the period. Sound Income Strategies LLC grew its holdings in Spotify Technology by 156.3% during the second quarter. Sound Income Strategies LLC now owns 41 shares of the company’s stock worth $31,000 after acquiring an additional 25 shares during the period. Finally, Truvestments Capital LLC acquired a new position in Spotify Technology during the first quarter worth about $34,000. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Trading Down 3.7%

Shares of Spotify Technology stock opened at $681.46 on Friday. The company has a market cap of $139.50 billion, a P/E ratio of 165.40, a P/E/G ratio of 3.35 and a beta of 1.67. Spotify Technology has a 1 year low of $362.31 and a 1 year high of $785.00. The stock has a 50-day moving average price of $695.85 and a 200 day moving average price of $664.29.

Spotify Technology (NYSE:SPOT) last issued its earnings results on Tuesday, July 29th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of $2.00 by ($2.42). Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The business had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the prior year, the company earned $1.33 EPS. Spotify Technology’s revenue for the quarter was up 10.1% on a year-over-year basis. Spotify Technology has set its Q3 2025 guidance at EPS. On average, equities analysts forecast that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SPOT shares. Sanford C. Bernstein raised their price objective on shares of Spotify Technology from $825.00 to $840.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. Cantor Fitzgerald increased their target price on shares of Spotify Technology from $610.00 to $640.00 and gave the company a “neutral” rating in a research note on Wednesday, June 18th. Barclays dropped their price target on Spotify Technology from $800.00 to $750.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. Morgan Stanley dropped their price target on Spotify Technology from $850.00 to $800.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. Finally, Citigroup lifted their target price on Spotify Technology from $715.00 to $750.00 and gave the stock a “neutral” rating in a report on Tuesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Spotify Technology presently has a consensus rating of “Moderate Buy” and an average price target of $731.16.

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.