Spotify Technology (SPOT) Stock Forecast & Price Target

$476.38 -0.23 (-0.05%)

(As of 12:09 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

Moderate Buy

Based on 29 Analyst Ratings

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
-11.48% 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 -11.48% from the current price of $476.38.

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SPOT Analyst Ratings Over Time

Type	Current Forecast 11/28/23 to 11/27/24	1 Month Ago 10/29/23 to 10/28/24	3 Months Ago 8/30/23 to 8/29/24	1 Year Ago 11/28/22 to 11/28/23
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)	22 Buy rating(s)	23 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	$376.21	$356.96	$169.50
Forecasted Upside	-11.48% Downside	-2.15% Downside	4.91% Upside	-7.18% Downside
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy	Moderate Buy

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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.

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.

Spotify Technology Stock vs. The Competition

Type	Spotify Technology	Business Services Companies	S&P 500
Consensus Rating Score	2.76	2.68	2.50
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy
Predicted Upside	-11.60% Downside	321.90% Upside	6.73% Upside
News Sentiment Rating	Positive News See Recent SPOT News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
11/14/2024	The Goldman Sachs Group 2 of 5 stars	E. Sheridan Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Buy ➝ Buy	$430.00 ➝ $490.00	+1.12%
11/14/2024	Canaccord Genuity Group 1 of 5 stars		Boost Target	Buy ➝ Buy	$475.00 ➝ $525.00	+9.17%
11/13/2024	Macquarie 2 of 5 stars		Boost Target	Outperform ➝ Outperform	$395.00 ➝ $500.00	+6.98%
11/13/2024	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$430.00 ➝ $515.00	+10.56%
11/13/2024	TD Cowen Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Hold ➝ Hold	$356.00 ➝ $416.00	-10.70%
11/13/2024	Piper Sandler Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral ➝ Neutral	$330.00 ➝ $450.00	-4.44%
Get the Latest News and Ratings for SPOT and Related Stocks Enter your email address below to receive the latest news and analysts' ratings for Spotify Technology and its competitors with MarketBeat's FREE daily newsletter.
11/13/2024	Wells Fargo & Company Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$470.00 ➝ $520.00	+10.43%
11/13/2024	KeyCorp Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$490.00 ➝ $520.00	+13.66%
11/13/2024	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$385.00 ➝ $475.00	+3.83%
11/13/2024	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$425.00 ➝ $530.00	+14.80%
11/13/2024	Pivotal Research Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy	$510.00 ➝ $565.00	+34.74%
11/13/2024	Phillip Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Buy ➝ Accumulate	$420.00 ➝ $485.00	+15.66%
11/13/2024	Morgan Stanley Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$430.00 ➝ $460.00	+9.70%
11/11/2024	Benchmark Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$430.00 ➝ $440.00	+9.81%
11/6/2024	Deutsche Bank Aktiengesellschaft Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$430.00 ➝ $440.00	+15.32%
10/17/2024	Rosenblatt Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$399.00 ➝ $438.00	+17.85%
10/7/2024	Cantor Fitzgerald Subscribe to MarketBeat All Access for the recommendation accuracy rating	D. Mathivanan Subscribe to MarketBeat All Access for the recommendation accuracy rating	Reiterated Rating	Neutral ➝ Neutral	$340.00 ➝ $340.00	-7.36%
8/29/2024	Evercore ISI Subscribe to MarketBeat All Access for the recommendation accuracy rating	M. Mahaney Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Outperform ➝ Outperform	$420.00 ➝ $460.00	+36.27%
7/24/2024	Guggenheim Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$400.00 ➝ $420.00	+27.32%
7/24/2024	DZ Bank Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Hold ➝ Buy	$375.00	+13.41%
7/12/2024	Wolfe Research Subscribe to MarketBeat All Access for the recommendation accuracy rating	D. Brisco Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Outperform	$390.00	+29.67%
7/11/2024	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$375.00 ➝ $400.00	+32.76%
7/11/2024	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Hold ➝ Buy	$242.00 ➝ $385.00	+26.23%
7/10/2024	Redburn Atlantic Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Neutral ➝ Sell	$230.00	-26.18%
5/7/2024	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral ➝ Neutral	$255.00 ➝ $310.00	+3.79%
4/24/2024	HSBC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$310.00 ➝ $355.00	+24.84%
4/22/2024	Loop Capital Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Hold ➝ Hold	$165.00 ➝ $250.00	-7.60%
4/15/2024	Raymond James Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform ➝ Outperform	$260.00 ➝ $320.00	+9.66%
12/8/2023	Robert W. Baird Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform ➝ Outperform	$185.00 ➝ $225.00	+15.07%
10/25/2023	Truist Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$176.00 ➝ $190.00	+17.79%
9/28/2023	Monness Crespi & Hardt Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Buy ➝ Neutral
4/26/2023	VNET Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Maintains
3/1/2023	Redburn Partners Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Neutral ➝ Buy	$140.00	+20.01%
2/6/2023	Atlantic Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Neutral ➝ Overweight	$160.00	+32.05%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Wednesday at 12:27 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

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

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 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 analysts is that investors should "moderate buy" SPOT shares.
: According to analysts, Spotify Technology's stock has a predicted downside of -11.48% based on their 12-month stock forecasts.
: Spotify Technology has been rated by research analysts at Bank of America, Barclays, Benchmark, Canaccord Genuity Group, Cantor Fitzgerald, Deutsche Bank Aktiengesellschaft, Evercore ISI, JPMorgan Chase & Co., KeyCorp, Macquarie, Morgan Stanley, Phillip Securities, Piper Sandler, Pivotal Research, Rosenblatt Securities, TD Cowen, The Goldman Sachs Group, 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 2.76 while the average consensus rating score for "business services" companies is 2.68. Learn more on how SPOT compares to other companies.

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This page (NYSE:SPOT) was last updated on 11/27/2024 by MarketBeat.com Staff

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Spotify Technology (SPOT) Stock Forecast & Price Target