Evercore ISI Group Raises SPOT Price Target to $750

On October 23, 2026, Evercore ISI Group maintained its Outperform rating on Spotify Technology S.A. (NYSE: SPOT) while raising its price target to $750.00 from $700.00. Research notes from Wall Street firms reflect evolving expectations for the streaming platform as market participants assess the company's valuation against its recent trading levels.

SPOT Spotify Technology S.A.

$583.66 ▲ +1.51% year to date

1M 3M YTD

Daily close · Oct 22, 2026

Evercore ISI Group's Call on Spotify Technology S.A.

Evercore ISI Group kept an Outperform rating on Spotify Technology S.A. on October 23, 2026, lifting its price target to $750.00 from $700.00. Forward-looking research notes of this type outline a firm's outlook on equity value over a multi-month horizon.

Other Institutional Activity in Spotify Technology S.A.

Large investment management firms continue to adjust their holdings in the audio platform. Baillie Gifford & Co reduced its position by 290,115 shares, ending the period with 7,928,451 shares valued at about $4,640,442,911. WCM Investment Management, LLC grew its holdings by 425,311 shares, resulting in a stake of 2,840,477 shares worth roughly $1,662,502,720. Jennison Associates LLC grew its holdings by 30,568 shares, ending with 2,809,432 shares worth about $1,644,332,393. Fisher Asset Management, LLC grew its holdings by 85,946 shares, ending with 2,674,677 shares worth about $1,565,461,642. Axxion S.A. sold out its position entirely, reducing its holdings by 2,350 shares to zero.

Spotify Technology S.A. Stock Up 11.3%

Spotify shares recently traded around $584.75 as of October 23, 2026, compared to an event closing price of $585.29 on that same day. The recent price sits about 11.5% above its 50-day moving average of $524.29 and about 17.8% above its 200-day moving average of $496.54. The stock trades roughly 14.5% below its 52-week high of $683.96 and about 44.4% above its 52-week low of $405.00. The current trading price remains below the analyst consensus target mean price of $627.10.

Recent Earnings

Spotify Technology S.A. 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%. The next corporate earnings announcement is scheduled for February 9, 2027.

Dividend

The company currently does not distribute a dividend to shareholders.

Insider Buying and Selling at Spotify Technology S.A.

Company insiders executed several stock sales over recent months. Chief Executive Officer Alex Norstrom sold 5,436 shares on August 3, 2026, for a total value of $2,729,435. Officer Dustee Jenkins sold 3,810 shares on August 14, 2026, valued at $1,954,343. Chief Executive Officer Gustav Stig Victor Soderstrom sold 20,913 shares on September 14, 2026, totaling $11,380,738, and later sold 20,910 shares on October 12, 2026, valued at $11,085,113.

Analysts Set New Price Targets

Wall Street coverage on October 23, 2026, included several target updates alongside Evercore ISI Group. Morgan Stanley maintained an Overweight rating and raised its target from $640.00 to $700.00. Oppenheimer maintained an Outperform rating and lifted its target from $550.00 to $650.00. Piper Sandler reiterated a Neutral rating with a target raised from $540.00 to $580.00. JP Morgan maintained an Overweight rating and increased its target from $650.00 to $700.00. Overall consensus tracking across 37 analyst opinions points toward a buy recommendation.

About Spotify Technology S.A.

Headquartered in Stockholm, Sweden, Spotify Technology S.A. operates audio streaming subscription services around the globe through its Premium and Ad-Supported segments. The platform gives users online and offline access to a vast catalog of music, podcasts, and audiobooks.

Bottom Line

Evercore ISI Group's target adjustment places fresh focus on Spotify's valuation relative to its moving averages and consensus expectations. Investors will look toward the upcoming earnings release on February 9, 2027, for further indicators on operational progress.