Bearish
Spotify's stock price target lowered to $660 by KeyBanc due to slower ad growth.
KeyBanc has reduced its price target for Spotify (SPOT) from $680 to $660, maintaining an "Overweight" rating. This adjustment reflects expectations of slower growth in Spotify's ad-supported business, leading to a decrease in the 2026 through 2028 revenue forecast. The new price target suggests a potential upside of approximately 39.6% from the stock's current price.
Key points
- KeyBanc lowers Spotify's price target to $660, citing slower ad growth.
- Spotify is set to release its Q3 2026 earnings on October 22, 2026, which may provide further insights into its financial performance.
- Bell Asset Management Ltd reduced its stake in Spotify by 39.2% during the third quarter, selling 3,123 shares.
Sources
AI-generated from public news sources. Not financial advice.
