Spotify Technology’s (SPOT) Neutral Rating Reiterated at Piper Sandler

Posted by Geri Gentry on Oct 26th, 2026

Piper Sandler reissued their neutral rating on shares of Spotify Technology (NYSE:SPOT – Free Report) in a report published on Friday,Benzinga reports. They currently have a $580.00 price objective on the stock, up from their prior price objective of $540.00.

Several other analysts also recently commented on the stock. TD Cowen reissued a “hold” rating and issued a $525.00 target price on shares of Spotify Technology in a research report on Friday. Morgan Stanley raised their price target on shares of Spotify Technology from $610.00 to $640.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Cantor Fitzgerald lifted their price objective on shares of Spotify Technology from $490.00 to $550.00 and gave the company a “neutral” rating in a research note on Friday. Guggenheim lifted their price objective on shares of Spotify Technology from $575.00 to $650.00 and gave the company a “buy” rating in a research note on Friday. Finally, Wells Fargo & Company increased their target price on shares of Spotify Technology from $570.00 to $660.00 and gave the stock an “overweight” rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $620.07.

View Our Latest Report on Spotify Technology

Spotify Technology Stock Performance

Shares of NYSE SPOT opened at $583.84 on Friday. The business has a 50 day simple moving average of $526.60 and a 200 day simple moving average of $497.97. Spotify Technology has a 52 week low of $405.00 and a 52 week high of $676.67. The stock has a market cap of $120.20 billion, a price-to-earnings ratio of 38.71, a PEG ratio of 1.81 and a beta of 1.61.

Spotify Technology (NYSE:SPOT – Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $3.03 earnings per share for the quarter, missing the consensus estimate of $3.16 by ($0.13). The business had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.47 billion. Spotify Technology had a net margin of 15.74% and a return on equity of 35.64%. Spotify Technology’s revenue was up 13.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.42) EPS. On average, analysts predict that Spotify Technology will post 13.62 EPS for the current year.

Insider Buying and Selling

In other news, CEO Gustav Söderström sold 20,910 shares of Spotify Technology stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $530.13, for a total value of $11,085,018.30. Following the transaction, the chief executive officer owned 19,908 shares of the company’s stock, valued at $10,553,828.04. This trade represents a 51.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Alex Norström sold 5,436 shares of Spotify Technology stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $502.10, for a total transaction of $2,729,415.60. Following the completion of the transaction, the chief executive officer directly owned 66,773 shares in the company, valued at approximately $33,526,723.30. This represents a 7.53% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 68,092 shares of company stock valued at $35,762,410 in the last ninety days. Company insiders own 0.40% of the company’s stock.

Institutional Trading of Spotify Technology

Several large investors have recently modified their holdings of the company. Janus Henderson Group PLC grew its stake in Spotify Technology by 20.1% in the 1st quarter. Janus Henderson Group PLC now owns 1,711,015 shares of the company’s stock valued at $829,641,000 after buying an additional 286,844 shares during the last quarter. Tiger Global Management LLC raised its holdings in Spotify Technology by 25.3% in the 1st quarter. Tiger Global Management LLC now owns 1,580,761 shares of the company’s stock worth $766,527,000 after acquiring an additional 319,300 shares during the period. Amundi lifted its position in Spotify Technology by 20.0% during the 1st quarter. Amundi now owns 1,104,484 shares of the company’s stock worth $535,575,000 after acquiring an additional 183,994 shares during the last quarter. Principal Financial Group Inc. lifted its position in Spotify Technology by 53.4% during the 1st quarter. Principal Financial Group Inc. now owns 989,667 shares of the company’s stock worth $479,899,000 after acquiring an additional 344,471 shares during the last quarter. Finally, Sei Investments Co. lifted its position in Spotify Technology by 1.8% during the 1st quarter. Sei Investments Co. now owns 749,495 shares of the company’s stock worth $363,415,000 after acquiring an additional 13,381 shares during the last quarter. 84.09% of the stock is owned by institutional investors.

Spotify Technology News Roundup

Here are the key news stories impacting Spotify Technology this week:

Positive Sentiment: Spotify reported 306 million premium subscribers in the third quarter, up 9% year over year and 1 million above its guidance. Monthly active users rose 11% to 788 million, with growth across all regions. Spotify Stock Jumps as Subscriber Growth Beats Expectations
Positive Sentiment: Revenue increased roughly 16% year over year to about €4.97 billion, while gross margin expanded 140 basis points to 33% and operating income exceeded company guidance. Spotify expects fourth-quarter operating profit above Wall Street expectations and projects revenue of approximately €6.0 billion. Spotify forecasts fourth-quarter profit above estimates on AI bets
Positive Sentiment: Management highlighted AI-powered personalization, including its “taste model,” as a way to increase listening, reduce churn and support pricing power. It also expects moderating expenses and continued margin expansion, with long-term targets of more than 20% operating margin and 35%–40% gross margin by 2030. Spotify Soars After Earnings as the Company Touts AI Benefits and Moderating Costs
Positive Sentiment: Several analysts raised their targets following the results. Morgan Stanley and JPMorgan lifted targets to $700 with overweight ratings, while Wells Fargo, Barclays, Oppenheimer and Guggenheim also raised targets to $650–$660. Spotify Analysts Raise Their Forecasts Following Q3 Earnings
Neutral Sentiment: Spotify’s headline results were mixed: quarterly EPS of roughly $2.78–$2.85 missed consensus near $3.10–$3.18, while revenue was slightly below estimates. Piper Sandler maintained a neutral rating with a $580 target, and Cantor Fitzgerald maintained neutral at $550.
Negative Sentiment: TD Cowen reaffirmed a hold rating with a $525 price target, and some newly raised targets remain below the current market valuation, signaling concerns that much of the subscriber and AI optimism may already be reflected in SPOT shares.

Spotify Technology Company Profile

(Get Free Report)

Spotify Technology SA is an audio streaming company that operates the Spotify platform, offering users access to music, podcasts and audiobooks through internet-connected devices. Its catalog includes licensed recordings from music labels and artists, as well as podcasts and other audio content from creators and publishers.

Spotify provides both an ad-supported service and subscription-based Premium plans. Premium subscribers generally receive ad-free listening and additional features, while the advertising-supported service allows users to access content without a paid subscription.