Is a rebound in the cards for Spotify stock (NYSE: SPOT)? Both Morgan Stanley and Guggenheim believe so, though the latter has sliced its SPOT target by nearly 17%.
Despite that double-digit reduction, Guggenheim’s Michael Morris is still anticipating a climb to $600 per share for Spotify stock. Based on SPOT’s price at the time of this writing, about $465, the target therefore implies a roughly 30% upside.
On one hand, 30% growth is 30% growth. On the other hand, SPOT is currently down 33% during the past six months and over 19% from 2026’s beginning. Consequently, the $600 price point would place the stock just a bit above its early 2026 value and well beneath its worth (almost $700 per share) as of August 2025.
Meanwhile, Morgan Stanley analyst Benjamin Swinburne reiterated a $650 SPOT target – itself implying a slightly larger upside, of course. (It probably doesn’t need saying given the targets’ suggestion of substantial SPOT growth, but each was accompanied by a buy rating.)
In other words, then, analysts remain bullish notwithstanding SPOT’s ongoing struggles – even if their enthusiasm is more muted than before.
This is especially true for those who’d been rather aggressively forecasting a Spotify stock ascent to somewhere in the ballpark of $1,000 per share.
A couple examples that arrived between our prior Spotify stock coverage and the above-mentioned targets: Bank of America swapped its staggering $900 target for a comparatively measured $750, against $420 for Pivotal Research (down from $875) and $760 for UBS (down from $800).
All this said, it’ll be worth closely monitoring SPOT’s positioning moving forward – as the company preps its first earnings report under co-CEOs Gustav Söderström and Alex Norström as well as a scheduled late-May Investor Day.
In keeping with execs’ comments, investors’ earnings-call concerns, and wider market trends, Investor Day will presumably bring a few AI-related announcements.
Closer to the present, fresh evidence indicates that Söderström and Norström aren’t taking Spotify out of the hardware game altogether.
Not all that long after decommissioning its Car Thing, the DSP today announced an “Eternal Playlist Urn” Bluetooth speaker in partnership with Liquid Death.
While the product (limited to 150 units) might sound like a joke – “now the dead can listen to their favorite jams for all of eternity,” the description reads – it’s very real. And so is its eye-watering $495 price tag.
Is the branded urn-speaker (which perhaps should have been unveiled around Halloween) a once-off collaboration or the beginning of a strategic pivot under new leadership? And does the seemingly left-field Liquid Death-Spotify partnership have anything to do with the latter’s “Super-Premium” (aka Supremium/Deluxe/Platinum) plan?
It was only one year back, some will recall, that the service was confirmed to be in talks with Live Nation about adding pre-sale passes to its higher-priced Super-Premium tier. Among other things, the promoter possesses a sizable stake in Liquid Death.
