Spotify Shares Dip 0.75% on $700M Trading Volume as Analysts Raise Targets Amid Strong Institutional Buying

Spotify Technology (SPOT) fell 0.75% on August 28, 2025, with a trading volume of $700 million. The stock closed at $686.93, reflecting a decline from its recent performance. Despite a quarterly earnings miss, the company reported revenue of $4.94 billion, surpassing estimates of $4.29 billion, signaling underlying demand.

Analysts have raised price targets for Spotify, with Bank of America increasing its target to $900 and Evercore ISI to $750. These adjustments reflect confidence in the company’s growth potential, despite near-term profitability challenges. Goldman Sachs and Sanford C. Bernstein also raised targets, contributing to a consensus price of $720.07 and a "Moderate Buy" rating.

Institutional investors have bolstered their stakes in Spotify. Corebridge Financial Inc. increased holdings by 11.6%, while Cornerstone Planning Group LLC and North Star Investment Management Corp. added 512.5% and 52.8%, respectively. Over 84% of shares are now held by institutional investors, indicating strong long-term support.

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