UBS analyst Batya Levi has increased the price target for Spotify Technology (SPOT) from $485 to $540, maintaining a Buy rating on the stock. The firm remains optimistic about Spotify’s 2025 outlook, predicting continued momentum driven by 13%+ currency-neutral revenue growth and 23 million premium subscribers expected in 2025, slightly lower than the 24 million projected for 2024. UBS also noted that the company’s focus on product improvements is essential for future monetization.
Levi highlights several potential catalysts that could positively impact Spotify’s performance, including the launch of new premium and superfan tiers, future price hikes, and an improvement in advertising trends as programmatic partnerships gain traction. These efforts and progress toward long-term financial targets could significantly enhance Spotify’s market positioning.
Meanwhile, CWEB analysts have also raised their price target for Spotify at $600. The analysts are highly bullish on Spotify, citing its ability to drive revenue growth through enhancements in premium and advertising segments. Given these positive developments, CWEB’s more aggressive price target reflects the strong growth prospects they see for Spotify.
The recent increase in price targets comes after Spotify’s earnings report in November, where the company posted $1.45 in earnings per share, falling short of the consensus estimate of $1.75, and reported revenues of $3.99 billion. Despite the slight miss, the company’s year-over-year revenue growth remains robust, at 18.8%. Analysts expect Spotify to post earnings of $6.02 per share for the current fiscal year.
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