Bearish
Spotify's stock drops 3.8% to $472.89 amid recent service outage and analyst cuts
In the past 24 hours, Spotify's stock declined by 3.8%, closing at $472.89, following a significant service outage on September 29, 2026, and a reduction in analyst price targets. The outage affected thousands of users globally, leading to login issues and service disruptions. Additionally, Guggenheim lowered its price target for Spotify from $750 to $720, citing higher capital costs.
Key points
- Service Outage: On September 29, 2026, Spotify experienced a major outage affecting thousands of users globally, primarily on mobile apps.
- Analyst Price Target Cut: Guggenheim reduced Spotify's price target from $750 to $720, maintaining a 'Buy' rating, due to higher capital costs.
- Stock Performance: Spotify's stock closed at $472.89 on October 2, 2026, down 3.8% from the previous day.
Sources
- Spotify was down for many —here's what we know about the outageTechRadar · September 30, 2026
- Spotify down LIVE — latest updates as service goes down for thousandsTom's Guide · September 29, 2026
- Guggenheim lowers Spotify stock price target to $720 on higher capital costsInvesting.com · February 11, 2026
- Spotify Technology SA (SPOT) Stock Down 3.8% -- Now Undervalued?GuruFocus · October 2, 2026
AI-generated from public news sources. Not financial advice.
