Bernstein SocGen Group Reiterates Outperform Rating on Spotify (SPOT)

Bernstein SocGen Group analyst Ian Moore reiterated an Outperform rating and $650.00 price target on Spotify (NYSE: SPOT).

The analyst commented: "This morning, after Spotify reported a stellar Q4 and gave a promising Q1 guide, co-CEO Alex Norstrom dubbed 2026 “The Year of Raising Ambition”, signaling a focus on innovation and monetization. The stock closed up ~15%, partially recovering from a January rout that, in our view, was triggered by perceived existential threats from music generation & manipulation startups (e.g. Suno, Udio & Klay). It is no secret that AI sits at the nexus of opportunity and ruin for many industries, but the contrast between Alex & Gustav’s optimism and the unspoken tensions running through the music industry today is palpable as the dominant DSP negotiates novel licensing frameworks with the various major rights holders. With an investor presentation now scheduled for May 21st and the next phase of music industry growth likely to hinge on evolving consumption from passive, plain-vanilla listening to high-touch, personalized engagement, we see a constructive near-term resolution as more probable than is currently reflected in the share price."

For an analyst ratings summary and ratings history on Spotify click here. For more ratings news on Spotify click here.

Shares of Spotify closed at $476.02 yesterday.

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