Analysts have recently adjusted their price targets for Spotify Technology S.A. (NYSE:SPOT), with multiple firms issuing updates in early January 2026. On January 14, Oppenheimer lowered its price target from $825 to $750 while reiterating an 'Outperform' rating. The firm cited a softer short-term outlook for the reduction but stated it remains confident in the long-term fundamentals. Oppenheimer believes Spotify has the largest user runway in large-cap Internet and significant pricing power.
Earlier, on January 9, UBS lowered its price target on Spotify from $850 to $800, while reiterating a 'Buy' rating. This followed an update from Guggenheim on January 8, where the firm lowered its price target from $800 to $750, maintaining a 'Buy' rating. Guggenheim reduced the target due to modestly lower estimates, cutting its 2026 revenue and EBITDA growth forecasts by 1% and 2%, respectively. The firm attributed these estimates to a later-than-expected U.S. price increase rather than weakening demand fundamentals.
Also on January 8, Cantor Fitzgerald reduced its price target on Spotify from $675 to $615, while reiterating a 'Neutral' rating. The firm sees a broader constructive setup for Global Internet stocks in 2026, with AI entering a synergy phase expected to drive improved monetization and returns on capex. However, Cantor Fitzgerald remains cautious on Spotify specifically.
Spotify Technology S.A. operates a global digital audio platform that offers music and podcasts through a subscription-based model.