Barclays Raises Spotify Technology (SPOT) Price Target to $650

Barclays maintained its Overweight rating on Spotify Technology S.A. SPOT on October 23, 2026, while lifting its price target from $565.00 to $650.00.

SPOT Spotify Technology S.A.

$583.66 ▲ +1.51% year to date

1M 3M YTD

Daily close · Oct 22, 2026

Barclays's Call on Spotify Technology S.A.

In its research note on October 23, 2026, Barclays kept an Overweight rating on Spotify Technology S.A. SPOT and bumped up its price target to $650.00 from $565.00. The firm's updated target signals continued confidence in the audio streaming platform's ongoing business strategy and market position.

Other Institutional Activity in Spotify Technology S.A.

Large investment firms have been actively adjusting their positions in Spotify Technology S.A. SPOT. Baillie Gifford & Co. reduced its holdings by 290,115 shares, ending the period with 7,928,451 shares worth about $4,552,437,299. WCM Investment Management, LLC grew its holdings by 425,311 shares, ending with 2,840,477 shares worth about $1,630,973,495. Jennison Associates LLC grew its holdings by 30,568 shares, ending with 2,809,432 shares worth about $1,613,147,766. Fisher Asset Management, LLC grew its holdings by 85,946 shares, ending with 2,674,677 shares worth about $1,535,772,793. Meanwhile, Axxion S.A. closed its position by selling 2,350 shares.

Spotify Technology S.A. Stock Up 11.3%

Spotify Technology S.A. SPOT recently traded around $575.12 as of October 23, 2026, roughly equal to its closing price of $574.19 on that same day. The stock is trading above its 50-day moving average of $524.29 and remains above its 200-day moving average of $496.54.

Recent Earnings

Spotify Technology S.A. SPOT reported trailing twelve month revenue of $18,112,994,424 and earnings of $17.40 per share. The company posted a net profit margin of 18.4% alongside a return on equity of 44.5%, with year-over-year revenue growth coming in at 13.9%. The company's next earnings report is scheduled for February 9, 2027.

Insider Buying and Selling at Spotify Technology S.A.

Company insiders have executed several share sales over recent months. Chief Executive Officer Alex Norstrom sold 5,436 shares on August 3, 2026, valued at $2,729,435. Officer Dustee Jenkins sold 3,810 shares on August 14, 2026, worth $1,954,343. Chief Executive Officer Gustav Stig Victor Soderstrom sold 20,913 shares on September 14, 2026, totaling $11,380,738, and followed up by selling another 20,910 shares on October 12, 2026, worth $11,085,113.

Analysts Set New Price Targets

Wall Street firms updated their views on Spotify Technology S.A. SPOT alongside Barclays on October 23, 2026. Wells Fargo maintained its Overweight rating and raised its price target to $660.00 from $570.00. TD Cowen reiterated a Hold rating with a $525.00 price target. Citizens reiterated a Market Outperform rating with a $625.00 price target. Guggenheim maintained a Buy rating and increased its price target to $650.00 from $575.00. Across the street, the stock carries a consensus buy recommendation from 37 analysts, with a mean price target of $628.00.

About Spotify Technology S.A.

Headquartered in Stockholm, Sweden, Spotify Technology S.A. SPOT operates audio streaming subscription services around the globe. The company runs through Premium and Ad-Supported segments, offering online and offline access to music, podcasts, audiobooks, and lossless audio streams directly to consumers and through various commercial partners. Barclays's target adjustment arrives as the company continues to scale its subscriber base and expand its media offerings.

Bottom Line

Investors will look toward Spotify Technology S.A. SPOT ahead of its next scheduled earnings release on February 9, 2027. Analyst updates and subsequent institutional filings will provide further clarity on how major market players view the company's valuation.