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Spotify Technology (SPOT) Stock Forecast & Price Target

Spotify Technology logo
$475.04 +4.34 (+0.92%)
(As of 04:45 PM ET)

Spotify Technology - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Sell
1
Hold
5
Buy
23

Based on 29 Wall Street analysts who have issued ratings for Spotify Technology in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 29 analysts, 1 has given a sell rating, 5 have given a hold rating, and 23 have given a buy rating for SPOT.

Consensus Price Target

$421.69
-11.23% Downside
According to the 29 analysts' twelve-month price targets for Spotify Technology, the average price target is $421.69. The highest price target for SPOT is $565.00, while the lowest price target for SPOT is $225.00. The average price target represents a forecasted downside of -11.23% from the current price of $475.04.
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SPOT Analyst Ratings Over Time

TypeCurrent Forecast
11/23/23 to 11/22/24
1 Month Ago
10/24/23 to 10/23/24
3 Months Ago
8/25/23 to 8/24/24
1 Year Ago
11/23/22 to 11/23/23
Strong Buy
0 Strong Buy rating(s)
0 Strong Buy rating(s)
0 Strong Buy rating(s)
0 Strong Buy rating(s)
Buy
23 Buy rating(s)
23 Buy rating(s)
22 Buy rating(s)
14 Buy rating(s)
Hold
5 Hold rating(s)
5 Hold rating(s)
5 Hold rating(s)
7 Hold rating(s)
Sell
1 Sell rating(s)
1 Sell rating(s)
1 Sell rating(s)
0 Sell rating(s)
Consensus Price Target$421.69$363.24$353.15$169.50
Forecasted Upside-11.23% Downside-4.38% Downside3.11% Upside-6.46% Downside
Consensus Rating
Moderate Buy
Moderate Buy
Moderate Buy
Moderate Buy

SPOT Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.
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SPOT Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.
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Spotify Technology Stock vs. The Competition

TypeSpotify TechnologyBusiness Services CompaniesS&P 500
Consensus Rating Score
2.76
2.68
2.50
Consensus RatingModerate BuyModerate BuyModerate Buy
Predicted Upside-10.75% Downside331.97% Upside8.53% Upside
News Sentiment Rating
Positive News

See Recent SPOT News
Positive News
Positive News
DateBrokerageAnalyst NameActionRatingPrice TargetUpside/Downside on Report DateDetails
11/14/2024The Goldman Sachs Group
2 of 5 stars
E. Sheridan
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Boost TargetBuy ➝ Buy$430.00 ➝ $490.00+1.12%
11/14/2024Canaccord Genuity Group
1 of 5 stars
 Boost TargetBuy ➝ Buy$475.00 ➝ $525.00+9.17%
11/13/2024Macquarie
2 of 5 stars
 Boost TargetOutperform ➝ Outperform$395.00 ➝ $500.00+6.98%
11/13/2024Bank of America
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 Boost TargetBuy ➝ Buy$430.00 ➝ $515.00+10.56%
11/13/2024TD Cowen
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 Boost TargetHold ➝ Hold$356.00 ➝ $416.00-10.70%
11/13/2024Piper Sandler
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 Boost TargetNeutral ➝ Neutral$330.00 ➝ $450.00-4.44%
11/13/2024Wells Fargo & Company
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 Boost TargetOverweight ➝ Overweight$470.00 ➝ $520.00+10.43%
11/13/2024KeyCorp
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 Boost TargetOverweight ➝ Overweight$490.00 ➝ $520.00+13.66%
11/13/2024Barclays
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 Boost TargetOverweight ➝ Overweight$385.00 ➝ $475.00+3.83%
11/13/2024JPMorgan Chase & Co.
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 Boost TargetOverweight ➝ Overweight$425.00 ➝ $530.00+14.80%
11/13/2024Pivotal Research
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 Boost TargetBuy$510.00 ➝ $565.00+34.74%
11/13/2024Phillip Securities
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 Reiterated RatingBuy ➝ Accumulate$420.00 ➝ $485.00+15.66%
11/13/2024Morgan Stanley
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 Boost TargetOverweight ➝ Overweight$430.00 ➝ $460.00+9.70%
11/11/2024Benchmark
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 Boost TargetBuy ➝ Buy$430.00 ➝ $440.00+9.81%
11/6/2024Deutsche Bank Aktiengesellschaft
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 Boost TargetBuy ➝ Buy$430.00 ➝ $440.00+15.32%
10/17/2024Rosenblatt Securities
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 Boost TargetBuy ➝ Buy$399.00 ➝ $438.00+17.85%
10/7/2024Cantor Fitzgerald
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D. Mathivanan
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Reiterated RatingNeutral ➝ Neutral$340.00 ➝ $340.00-7.36%
8/29/2024Evercore ISI
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M. Mahaney
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Boost TargetOutperform ➝ Outperform$420.00 ➝ $460.00+36.27%
7/24/2024Guggenheim
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 Boost TargetBuy ➝ Buy$400.00 ➝ $420.00+27.32%
7/24/2024DZ Bank
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 UpgradeHold ➝ Buy$375.00+13.41%
7/12/2024Wolfe Research
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D. Brisco
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Initiated CoverageOutperform$390.00+29.67%
7/11/2024UBS Group
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 Boost TargetBuy ➝ Buy$375.00 ➝ $400.00+32.76%
7/11/2024Jefferies Financial Group
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 Reiterated RatingHold ➝ Buy$242.00 ➝ $385.00+26.23%
7/10/2024Redburn Atlantic
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 Reiterated RatingNeutral ➝ Sell$230.00-26.18%
5/7/2024Citigroup
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 Boost TargetNeutral ➝ Neutral$255.00 ➝ $310.00+3.79%
4/24/2024HSBC
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 Boost TargetBuy ➝ Buy$310.00 ➝ $355.00+24.84%
4/22/2024Loop Capital
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 Boost TargetHold ➝ Hold$165.00 ➝ $250.00-7.60%
4/15/2024Raymond James
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 Boost TargetOutperform ➝ Outperform$260.00 ➝ $320.00+9.66%
12/8/2023Robert W. Baird
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 Boost TargetOutperform ➝ Outperform$185.00 ➝ $225.00+15.07%
10/25/2023Truist Financial
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 Boost TargetBuy ➝ Buy$176.00 ➝ $190.00+17.79%
9/28/2023Monness Crespi & Hardt
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 DowngradeBuy ➝ Neutral
4/26/2023VNET Group
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 Reiterated RatingMaintains
3/1/2023Redburn Partners
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 UpgradeNeutral ➝ Buy$140.00+20.01%
2/6/2023Atlantic Securities
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 UpgradeNeutral ➝ Overweight$160.00+32.05%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Friday at 05:19 PM ET.


Should I Buy Spotify Technology Stock? SPOT Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Thursday, November 21, 2024. Please send any questions or comments about these Spotify Technology pros and cons to contact@marketbeat.com.

Spotify Technology
Bull Case

green Wall Street bull icon

Here are some ways that investors could benefit from investing in Spotify Technology S.A.:

  • Spotify Technology S.A. reported a revenue of $3.99 billion for the latest quarter, showing an impressive year-over-year growth of 18.8%, indicating strong demand for its audio streaming services.
  • The company has a solid return on equity of 19.07%, which reflects its ability to generate profit from shareholders' equity, suggesting efficient management and profitability.
  • Analysts have a consensus rating of "Moderate Buy" for Spotify Technology S.A., with a significant number of buy ratings (23), indicating positive sentiment among market experts.
  • Recent upgrades from multiple brokerages, including an increase in target prices by firms like Barclays and Morgan Stanley, suggest that analysts are optimistic about the company's future performance.
  • The current stock price is around $421.69, which is below some analysts' target prices, indicating potential for price appreciation as the market recognizes the company's growth prospects.

Spotify Technology
Bear Case

red Wall Street bear icon

Investors should be bearish about investing in Spotify Technology S.A. for these reasons:

  • The company missed earnings per share (EPS) estimates by $0.30, reporting $1.45 instead of the expected $1.75, which may raise concerns about its profitability and operational efficiency.
  • Despite revenue growth, Spotify Technology S.A. reported a net margin of only 4.66%, which may indicate challenges in controlling costs and achieving higher profitability.
  • One analyst has issued a sell rating on the stock, suggesting that there are concerns about the company's future performance that investors should consider.
  • With a competitive landscape in the audio streaming market, Spotify Technology S.A. faces ongoing challenges from rivals, which could impact its market share and growth potential.
  • The company's reliance on subscription revenue means that any downturn in user growth or retention could significantly affect its financial performance.

SPOT Forecast - Frequently Asked Questions

According to the research reports of 29 Wall Street equities research analysts, the average twelve-month stock price forecast for Spotify Technology is $421.69, with a high forecast of $565.00 and a low forecast of $225.00.

29 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Spotify Technology in the last year. There is currently 1 sell rating, 5 hold ratings and 23 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "moderate buy" SPOT shares.

According to analysts, Spotify Technology's stock has a predicted downside of -11.23% based on their 12-month stock forecasts.

Analysts like Spotify Technology more than other "business services" companies. The consensus rating score for Spotify Technology is 2.76 while the average consensus rating score for "business services" companies is 2.68. Learn more on how SPOT compares to other companies.


This page (NYSE:SPOT) was last updated on 11/22/2024 by MarketBeat.com Staff
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