Spotify Technology

SPOT: Upcoming Price Increases And Product Changes Will Drive Future Upside

AN

AnalystConsensusTarget

AnalystConsensusTarget

Not Invested

Based on Analyst Price Targets

Published

24 Nov 24

Updated

18 Nov 25

Views

451

n/a

n/a

AnalystConsensusTarget's Fair Value

n/a

1Y

27.6%

7D

0.9%

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1Y

27.6%

7D

0.9%

You can edit this narrative until Nov 19 4:15 PM. Then, changes will post as Updates.

Author's Valuation

US$748.622.2% undervalued

AnalystConsensusTarget Fair Value

Shared on 18 Nov 25

Fair value Increased 1.65%

SPOT: User Gains From Free Tier Funnel Will Drive Competitive Leadership

Spotify’s analyst price target has been modestly increased from approximately $736 to $749, as analysts point to rising expectations for revenue growth and margin expansion. This outlook is fueled by upcoming price increases and ongoing product enhancements.

Shared on 01 Nov 25

Fair value Decreased 1.34%

Analysts have slightly lowered their fair value estimate for Spotify Technology by approximately $10 to $736. They cite a balanced outlook in light of evolving industry pricing opportunities and the company's recent financial performance trends.

Shared on 17 Oct 25

Fair value Decreased 0.18%

Spotify’s consensus analyst price target has been adjusted slightly lower, from $747.78 to $746.42. This change reflects updated expectations around revenue growth and profit margins as analysts weigh recent price increases, user engagement momentum, and the outlook for cost management.

Shared on 03 Oct 25

Fair value Decreased 1.11%

Analysts have slightly lowered their fair value estimate for Spotify Technology, adjusting the price target from $756 to $748. More balanced risk-reward expectations and moderated growth outlooks for key metrics offset recent model updates and price increases.

Shared on 17 Sep 25

Fair value Increased 2.21%

Analysts have raised Spotify’s price targets, citing robust subscriber growth, improved product differentiation and engagement, and greater pricing power despite near-term cost headwinds, leading to a consensus Analyst Price Target increase from $739.83 to $756.18. Analyst Commentary Bullish analysts are raising price targets on expectations of continued price increases in key markets and further upward revisions to long-term revenue and profit estimates.

Shared on 01 May 25

Fair value Increased 7.55%

Shared on 23 Apr 25

Fair value Decreased 1.84%

AnalystConsensusTarget has increased shares outstanding growth rate from 0.0% to 0.0%.

Shared on 17 Apr 25

Fair value Decreased 2.50%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 09 Apr 25

Fair value Increased 2.73%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 02 Apr 25

Fair value Increased 3.99%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 26 Mar 25

Fair value Increased 1.31%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 19 Mar 25

Fair value Decreased 2.22%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 12 Mar 25

Fair value Decreased 7.75%

AnalystConsensusTarget has increased shares outstanding growth rate from 0.0% to 0.0%.

AnalystConsensusTarget Fair Value

US$748.6

22.2% undervalued

Future estimation in

Growth p.a.

Growth p.a.

%

Decrease

Increase

Current revenue growth rate

12.09%

Entertainment revenue growth rate

0.42%

Risk Level (Discount Rate)

Our default considers factors like the company's size, volatility, profitablity and country of operation.

%

0

Decrease

Increase

Current discount rate

8.50%

Calculation

€3.64b

Earnings '28

x

48.16x

PE Ratio '28

=

€175.10b

Market Cap '28

€175.10b

Market Cap '28

/

212.95m

No. shares '28

=

€822.25

Share Price '28

€822.25 Share Price '28

Discounted to 2025 @ 8.54% p.a.

=

€643.09

Fair Value '25

€643.09 Fair Value '25

Converted to USD @ 1.1589 EUR/USD Exchange Rate

=

US$745.27

Fair Value '25