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Spotify Technology (SPOT) Stock Forecast & Price Target

Spotify Technology logo
$399.71 +8.55 (+2.19%)
(As of 11/7/2024 ET)
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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

Moderate Buy
Based on 28 Analyst Ratings
Sell
1
Hold
5
Buy
22

Based on 28 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 28 analysts, 1 has given a sell rating, 5 have given a hold rating, and 22 have given a buy rating for SPOT.

Consensus Price Target

$379.79
-4.98% Downside
According to the 28 analysts' twelve-month price targets for Spotify Technology, the average price target is $379.79. The highest price target for SPOT is $510.00, while the lowest price target for SPOT is $225.00. The average price target represents a forecasted downside of -4.98% from the current price of $399.71.
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SPOT Analyst Ratings Over Time

TypeCurrent Forecast
11/8/23 to 11/7/24		1 Month Ago
10/9/23 to 10/8/24		3 Months Ago
8/10/23 to 8/9/24		1 Year Ago
11/8/22 to 11/8/23
Strong Buy
0 Strong Buy rating(s)
0 Strong Buy rating(s)
0 Strong Buy rating(s)
0 Strong Buy rating(s)
Buy
22 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$379.79$359.14$353.15$169.50
Forecasted Upside-4.98% Downside-3.05% Downside3.96% Upside-0.28% 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
2.75
2.67
2.50
Consensus RatingModerate BuyModerate BuyHold
Predicted Upside-4.98% Downside321.60% Upside7.42% Upside
News Sentiment Rating
Positive News

See Recent SPOT News
Neutral News
Positive News
Export to Excel
DateBrokerageAnalyst NameActionRatingPrice TargetUpside/Downside on Report DateDetails
11/6/2024Deutsche Bank Aktiengesellschaft
3 of 5 stars		 Boost TargetBuy ➝ Buy$430.00 ➝ $440.00+15.32%
10/28/2024Wells Fargo & Company
3 of 5 stars		 Boost TargetOverweight ➝ Overweight$420.00 ➝ $470.00+21.45%
10/23/2024Morgan Stanley
3 of 5 stars		 Boost TargetOverweight ➝ Overweight$400.00 ➝ $430.00+10.93%
10/17/2024Rosenblatt Securities
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetBuy ➝ Buy$399.00 ➝ $438.00+17.85%
10/16/2024KeyCorp
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetOverweight ➝ Overweight$440.00 ➝ $490.00+31.54%
10/7/2024Cantor Fitzgerald
Subscribe to MarketBeat All Access for the recommendation accuracy rating		D. Mathivanan
Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated RatingNeutral ➝ Neutral$340.00 ➝ $340.00-7.36%
9/19/2024Pivotal Research
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetBuy ➝ Buy$460.00 ➝ $510.00+48.28%
8/29/2024Evercore ISI
Subscribe to MarketBeat All Access for the recommendation accuracy rating		M. Mahaney
Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost TargetOutperform ➝ Outperform$420.00 ➝ $460.00+36.27%
7/24/2024Guggenheim
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetBuy ➝ Buy$400.00 ➝ $420.00+27.32%
7/24/2024Barclays
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetOverweight ➝ Overweight$350.00 ➝ $360.00+8.22%
7/24/2024JPMorgan Chase & Co.
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetOverweight ➝ Overweight$375.00 ➝ $425.00+25.57%
7/24/2024TD Cowen
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetHold ➝ Hold$273.00 ➝ $356.00+3.54%
7/24/2024The Goldman Sachs Group
Subscribe to MarketBeat All Access for the recommendation accuracy rating		E. Sheridan
Subscribe to MarketBeat All Access for the recommendation accuracy rating		UpgradeNeutral ➝ Buy$320.00 ➝ $425.00+28.53%
7/24/2024DZ Bank
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 UpgradeHold ➝ Buy$375.00+13.41%
7/23/2024Macquarie
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetOutperform ➝ Outperform$345.00 ➝ $395.00+19.41%
7/22/2024Benchmark
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Reiterated RatingBuy ➝ Buy$405.00 ➝ $405.00+36.74%
7/12/2024Wolfe Research
Subscribe to MarketBeat All Access for the recommendation accuracy rating		D. Brisco
Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated CoverageOutperform$390.00+29.67%
7/11/2024UBS Group
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetBuy ➝ Buy$375.00 ➝ $400.00+32.76%
7/11/2024Jefferies Financial Group
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Reiterated RatingHold ➝ Buy$242.00 ➝ $385.00+26.23%
7/10/2024Redburn Atlantic
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Reiterated RatingNeutral ➝ Sell$230.00-26.18%
7/2/2024Bank of America
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetBuy ➝ Buy$370.00 ➝ $380.00+21.02%
5/7/2024Citigroup
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetNeutral ➝ Neutral$255.00 ➝ $310.00+3.79%
4/24/2024HSBC
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetBuy ➝ Buy$310.00 ➝ $355.00+24.84%
4/24/2024Piper Sandler
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Reiterated RatingNeutral ➝ Neutral$300.00 ➝ $320.00+12.19%
4/22/2024Loop Capital
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetHold ➝ Hold$165.00 ➝ $250.00-7.60%
4/22/2024Canaccord Genuity Group
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetBuy ➝ Buy$315.00 ➝ $330.00+19.64%
4/15/2024Raymond James
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetOutperform ➝ Outperform$260.00 ➝ $320.00+9.66%
12/8/2023Robert W. Baird
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetOutperform ➝ Outperform$185.00 ➝ $225.00+15.07%
10/25/2023Truist Financial
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetBuy ➝ Buy$176.00 ➝ $190.00+17.79%
9/28/2023Monness Crespi & Hardt
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 DowngradeBuy ➝ Neutral
4/26/2023VNET Group
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Reiterated RatingMaintains
3/1/2023Redburn Partners
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 UpgradeNeutral ➝ Buy$140.00+20.01%
2/6/2023Atlantic Securities
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 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 Thursday at 11:14 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 Friday, October 25, 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. has shown consistent revenue growth over recent quarters, indicating a strong business performance.
  • The company's innovative approach to audio streaming services has helped it maintain a competitive edge in the market.
  • With a market capitalization of $73.90 billion, Spotify Technology S.A. is a significant player in the industry, offering stability and potential growth.
  • Analysts have a consensus target price of $359.14 for Spotify Technology S.A., suggesting potential upside for investors.
  • Spotify Technology S.A.'s Premium segment provides a unique offering of unlimited online and offline streaming access without commercial breaks, appealing to a wide customer base.

Spotify Technology
Bear Case

red Wall Street bear icon

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

  • Spotify Technology S.A. has a negative price-to-earnings ratio of -555.96, which may raise concerns about its valuation.
  • The company's debt-to-equity ratio of 0.31 indicates a moderate level of debt, which could impact its financial flexibility.
  • While the company has shown revenue growth, its net margin of 3.22% suggests relatively low profitability compared to industry peers.
  • Spotify Technology S.A.'s stock price has experienced volatility, with a 52-week range from $145.76 to $389.23, potentially leading to uncertainty for investors.
  • Investors should carefully consider the competitive landscape in the audio streaming industry, as new entrants and changing consumer preferences could impact Spotify Technology S.A.'s market position.

SPOT Forecast - Frequently Asked Questions

According to the research reports of 28 Wall Street equities research analysts, the average twelve-month stock price forecast for Spotify Technology is $379.79, with a high forecast of $510.00 and a low forecast of $225.00.

28 Wall Street 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 22 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" SPOT shares.

According to analysts, Spotify Technology's stock has a predicted downside of -4.98% based on their 12-month stock forecasts.

Spotify Technology has been rated by research analysts at Cantor Fitzgerald, Deutsche Bank Aktiengesellschaft, Evercore ISI, KeyCorp, Morgan Stanley, Pivotal Research, Rosenblatt Securities, and Wells Fargo & Company in the past 90 days.

Analysts like Spotify Technology more than other "business services" companies. The consensus rating score for Spotify Technology is 2.75 while the average consensus rating score for "business services" companies is 2.67. Learn more on how SPOT compares to other companies.

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This page (NYSE:SPOT) was last updated on 11/7/2024 by MarketBeat.com Staff
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