$SPOT

Spotify renewed its multiyear licensing deal with Joe Rogan's podcast, The Joe Rogan Experience, on October 8, 2026. The terms are similar to the 2024 deal, which was estimated to include a $250 million earnout. Spotify handles ad sales and licensing, with the show available on YouTube and Apple Podcasts. Spotify reports 18 million followers for the podcast.

Spotify (SPOT) renewed its deal with Joe Rogan, adding a $250M earnout, and expanded its buyback program by $1.5B. Q2 saw 9% subscriber growth and 33.4% gross margin. A valuation model targets $780, implying 47% upside. Q3 results on October 22 will be key for investor sentiment.

Bernstein and SocGen reiterated an Outperform rating and $625 price target for Spotify (SPOT) ahead of Q3 earnings. The firm expects strong 2027 setup due to engagement and monetization efforts. Spotify trades at $530.46, above InvestingPro’s Fair Value estimate. The company is expanding its podcast and AI features, with Audiobooks+ having over 1 million subscribers. IndeRes downgraded SPOT to Accumulate, citing valuation concerns, while Citizens maintained a Market Outperform rating.

Goldman Sachs maintained a Buy rating on Spotify (SPOT) with a $645 price target, down from $655, citing long-term ARPU growth potential from AI-driven premium subscriptions. Q3 revenue is expected at €4.964B, slightly below guidance. Paid subscribers reached 305M, with MAU at 788M. Goldman Sachs lowered 2026 operational expectations due to ad revenue headwinds and currency impacts.

StoneX downgraded Spotify (SPOT) to Hold from Buy, citing limited revenue per user growth and rising royalty costs. The analyst expects gross-margin expansion in 2027 to be lower than consensus due to higher label payments. Spotify's AI Remix lacks full major label participation. StoneX reduced its revenue and gross margin forecasts for Q3, Q4, and 2027. SPOT shares fell 0.8% premarket.

Wall Street analysts issued upgrades, downgrades, and initiations for various companies. Bank of America (BAC) was upgraded to Outperform, while PayPal (PYPL) was downgraded to Underperform. Other notable actions include upgrades for Crocs (CROX) and Walmart (WMT), and downgrades for Align Technology (ALGN) and Spotify (SPOT). The market saw declines, with the Nasdaq down 1.88% due to inflation concerns and energy price impacts.

IndeRes downgraded Spotify (SPOT) to 'Accumulate' from 'Buy' while raising its price target to $580. The firm cut Q3 EBIT estimates due to higher social charges and adjusted user and ad assumptions. Spotify's P/E ratio is 29.42, with 9% revenue growth over the last year. The company is set to report Q3 results on October 23. Analysts are watching subscriber growth, ad business recovery, and cost management.

Analysts updated ratings and price targets for several companies. Notable changes include Crocs upgraded to Overweight with a target of $139, IBM's target raised to $238, Microsoft's target increased to $675, and Morgan Stanley's target cut to $185. Other companies received mixed recommendations and target adjustments.

Soderstrom Gustav (Co-Chief Executive Officer) sold 20,910 shares of Spotify Technology S.A. (SPOT) at an average of $530.13 ($527.05–$533.97, $11.09M total) across 8 trades on 2026-10-12 under a Rule 10b5-1 trading plan.

Citizens reiterated a Market Outperform rating and $625 price target for Spotify (SPOT), citing 2027 growth prospects. The firm expects revenue growth acceleration and expense deceleration due to past investments. Spotify's 2026 revenue is forecasted at 14% growth. Analysts have mixed views on SPOT, with recent price targets ranging from $540 to $675.