Morgan Stanley Raises SPOT Price Target to $700

On October 23, 2026, Morgan Stanley maintained its Overweight rating on Spotify Technology S.A. (NYSE: SPOT) while raising its price target to $700.00 from $640.00. The note outlines the firm's forward-looking view on the audio streaming provider as shares recently traded around $584.75. Spotify closed at $585.29 on the day of the announcement.

SPOT Spotify Technology S.A.

$583.66 ▲ +1.51% year to date

1M 3M YTD

Daily close · Oct 22, 2026

Morgan Stanley's Call on Spotify Technology

In its research note, Morgan Stanley kept an Overweight rating on the stock and bumped up its target by $60.00 to $700.00. The previous target was $640.00. Analyst ratings reflect the firm's outlook for future performance rather than historical results.

Other Institutional Activity in Spotify Technology

Large funds made notable moves in their Spotify holdings in reports filed for June 30, 2026. Baillie Gifford & Co reduced its holdings by 290,115 shares, ending with 7,928,451 shares worth about $4,640,442,911. WCM Investment Management, LLC grew its holdings by 425,311 shares, ending with 2,840,477 shares worth about $1,662,502,720, which is a 17.6% increase. Jennison Associates LLC grew its holdings by 30,568 shares, ending with 2,809,432 shares worth about $1,644,332,393, representing a 1.1% increase. Fisher Asset Management, LLC grew its holdings by 85,946 shares, ending with 2,674,677 shares worth about $1,565,461,642, marking a 3.3% increase. Dz Bank Ag Deutsche Zentral Genossenschafts Bank, Frankfurt Am Main grew its holdings by 898,599 shares, ending with 2,463,556 shares worth about $1,441,894,637, which is a 57.4% increase.

Spotify Technology S.A. Stock Up 11.3%

Spotify shares recently traded around $584.75 as of October 23, 2026, down about 0.1% from the event closing price of $585.29. The stock trades above its 50-day moving average of $524.29 and above its 200-day moving average of $496.54. The company carries a market capitalization of roughly $120.0 billion.

Recent Earnings

Spotify reported trailing twelve-month revenue of $18.11 billion and basic earnings of $17.40 per share. The company's next earnings report is scheduled for February 9, 2027.

Insider Buying and Selling at Spotify Technology S.A.

Several company insiders completed stock sales prior to the analyst update. Chief Executive Officer Alex Norstrom sold 5,436 shares worth $2,729,435 on August 3, 2026. Officer Dustee Jenkins sold 3,810 shares worth $1,954,343 on August 14, 2026. Chief Executive Officer Gustav Stig Victor Soderstrom sold 20,913 shares worth $11,380,738 on September 14, 2026, and later sold 20,910 shares worth $11,085,113 on October 12, 2026.

Analysts Set New Price Targets

Other Wall Street firms updated their views on the same day. Oppenheimer maintained an Outperform rating and raised its price target from $550.00 to $650.00. Piper Sandler reiterated a Neutral rating while lifting its target from $540.00 to $580.00. JP Morgan maintained an Overweight rating and raised its target from $650.00 to $700.00. Evercore ISI Group maintained an Outperform rating while increasing its target from $700.00 to $750.00. Overall, the stock holds a consensus buy rating from 37 analysts, with a mean price target of $628.00.

About Spotify Technology

Spotify Technology S.A. provides digital audio streaming subscription services around the globe. The platform connects listeners with catalogs of music, podcasts, and audiobooks through its Premium and Ad-Supported segments. The business model relies on direct subscriptions as well as partnerships to reach end users worldwide.

Bottom Line

Investors will look ahead to Spotify's next earnings release on February 9, 2027, for further details on user growth and profit margins. Market participants should monitor upcoming institutional filings and analyst notes for shifts in sentiment.