Spotify Technology (NYSE:SPOT) Price Target Lowered to $600.00 at The Goldman Sachs Group

Key Points

• Goldman Sachs cut its Spotify price target from $670 to $600 but maintained a "buy" rating, implying roughly a 35% upside from the current share price.
• Spotify beat Q1 revenue ($5.32B) and EPS ($5.16) expectations, yet issued weak Q2 guidance and flagged ad‑revenue softness and AI costs, prompting a sharp post‑earnings selloff.
• Analyst views are mixed—MarketBeat shows a "Moderate Buy" consensus with an average target near $662 amid multiple target cuts (e.g., Cantor to $430)—while insiders have sold shares and institutions hold about 84% of the stock.

Spotify Technology (NYSE:SPOT - Get Free Report) had its target price lowered by equities researchers at The Goldman Sachs Group from $670.00 to $600.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. The Goldman Sachs Group's target price points to a potential upside of 35.00% from the stock's current price.

SPOT has been the subject of several other reports. Citigroup raised shares of Spotify Technology from a "neutral" rating to a "buy" rating and set a $650.00 target price for the company in a report on Friday, January 30th. Weiss Ratings lowered shares of Spotify Technology from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, February 26th. Cantor Fitzgerald cut their target price on shares of Spotify Technology from $525.00 to $430.00 and set a "neutral" rating for the company in a report on Wednesday. Moffett Nathanson assumed coverage on shares of Spotify Technology in a report on Tuesday, January 27th. They issued a "neutral" rating and a $487.00 price target for the company. Finally, Citizens Jmp reissued a "market outperform" rating and issued a $600.00 price target (down from $800.00) on shares of Spotify Technology in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Spotify Technology presently has a consensus rating of "Moderate Buy" and an average target price of $661.96.

Spotify Technology Stock Up 2.4%

Shares of NYSE:SPOT traded up $10.25 during trading on Wednesday, hitting $444.45. 2,023,995 shares of the stock traded hands, compared to its average volume of 2,689,413. The company has a market cap of $91.51 billion, a price-to-earnings ratio of 46.11, a P/E/G ratio of 1.08 and a beta of 1.70. The company has a fifty day moving average price of $501.23 and a two-hundred day moving average price of $548.45. Spotify Technology has a 52-week low of $405.00 and a 52-week high of $785.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its earnings results on Wednesday, February 11th. The company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $3.16 by $2.00. The firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.14 billion. Spotify Technology had a net margin of 13.16% and a return on equity of 31.35%. The business's quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.88 EPS. On average, equities research analysts predict that Spotify Technology will post 15.73 EPS for the current fiscal year.

Insider Buying and Selling at Spotify Technology

In other Spotify Technology news, CEO Alex Norstrom sold 5,436 shares of Spotify Technology stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $479.51, for a total transaction of $2,606,616.36. Following the sale, the chief executive officer owned 69,989 shares of the company's stock, valued at $33,560,425.39. The trade was a 7.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gustav Soderstrom sold 20,833 shares of Spotify Technology stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $473.52, for a total transaction of $9,864,842.16. Following the sale, the chief executive officer directly owned 20,609 shares in the company, valued at approximately $9,758,773.68. This trade represents a 50.27% decrease in their position. The SEC filing for this sale provides additional information. 0.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Spotify Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Meitav Investment House Ltd. boosted its stake in Spotify Technology by 14.2% during the 1st quarter. Meitav Investment House Ltd. now owns 71,503 shares of the company's stock worth $34,673,000 after purchasing an additional 8,888 shares during the last quarter. Resonant Capital Advisors LLC boosted its stake in Spotify Technology by 12.3% during the 1st quarter. Resonant Capital Advisors LLC now owns 687 shares of the company's stock worth $333,000 after purchasing an additional 75 shares during the last quarter. PUREfi Wealth LLC boosted its stake in Spotify Technology by 37.6% during the 1st quarter. PUREfi Wealth LLC now owns 670 shares of the company's stock worth $325,000 after purchasing an additional 183 shares during the last quarter. Abel Hall LLC boosted its stake in Spotify Technology by 14.1% during the 1st quarter. Abel Hall LLC now owns 753 shares of the company's stock worth $365,000 after purchasing an additional 93 shares during the last quarter. Finally, Marietta Investment Partners LLC acquired a new position in shares of Spotify Technology during the 1st quarter valued at about $5,165,000. Institutional investors and hedge funds own 84.09% of the company's stock.

Trending Headlines about Spotify Technology

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

• Positive Sentiment: Q1 results beat across revenue, EPS and user metrics — Spotify reported stronger‑than‑expected revenue and profit and reiterated robust MAU/premium subscriber trends, giving fundamental support despite the cautious outlook. Spotify Technology S.A. Releases Results for First Quarter 2026
• Positive Sentiment: Expanded product initiatives — Spotify’s new Peloton partnership and fitness/video push broaden content offerings and potential ARPU/margin levers for Premium users. Product diversification can support longer‑term growth. Spotify Premium Now Includes Peloton Classes, Marking Push Into Fitness Content
• Positive Sentiment: Some analysts maintained buy/overweight stances with still‑elevated price targets — Citizens JMP reaffirmed "market outperform" with a $600 PT (lowered from $800), and Guggenheim kept a "buy" while trimming its PT, signaling continued institutional conviction despite cuts. These notes provide a counterweight to the selloff. Benzinga
• Neutral Sentiment: Modest analyst estimate upgrades — Erste Group nudged FY2026/FY2027 EPS estimates slightly higher, which helps fundamentals but is not a dramatic re‑rating. MarketBeat SPOT analyst note
• Neutral Sentiment: Investor / hedge‑fund interest: notable activist/hedge funds (e.g., Lone Pine) have stakes — that can be positive longer term but doesn’t eliminate near‑term execution/guidance risk. Spotify Technology S.A. (SPOT): Stephen Mandel Likes This Streaming Company
• Negative Sentiment: Weak Q2 guidance on operating income and premium adds — Spotify forecast Q2 operating income and premium subscriber growth below street expectations, which triggered the sharp post‑earnings selloff as investors focused on near‑term profitability and subscriber trajectory. Spotify forecasts second-quarter profit below estimates, shares fall (Reuters)
• Negative Sentiment: Widespread price‑target cuts and mixed analyst reactions — several firms trimmed targets (Cantor Fitzgerald to $430, Pivotal to $400 and others), amplifying downside pressure and signaling more cautious near‑term expectations. Benzinga
• Negative Sentiment: Ad‑revenue weakness and AI‑related costs — commentary about softer ad demand, the drag from ad‑supported revenue trends, and sizable AI investments weighed on margin guidance and valuation assumptions. That narrative explains why strong headline Q1 metrics weren’t enough to prevent the selloff. Spotify’s Ad Slump Raises a Bigger Question Than You Think (MarketBeat)

About Spotify Technology

Spotify Technology is a digital audio streaming company best known for its on-demand music service and a growing portfolio of spoken-word content. Founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon and launched commercially in 2008, the company offers a cross-platform app that enables users to discover, stream and organize music, podcasts and other audio. Its primary consumer products include a free, ad-supported tier and a paid Spotify Premium subscription that provides ad-free listening, offline playback and higher-quality audio streams.

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