Spotify price target raised to $900 from $800 at Pivotal Research

Pivotal Research raised the firm’s price target on Spotify (SPOT) to $900 from $800 and keeps a Buy rating on the shares. The firm says it moved to a Street-high price target after changing to a year-end 2026 target price from 2025, an updated Tencent music stake valuation, and net favorable currency movements. Pivotal’s positive Spotify investment thesis remains unchanged, as the company has won the global audio streaming wars, driven by its “best-in-class” user interface and recommendation engine, while audio streaming still appears underpenetrated globally, allowing the company to take price and still generate solid subscriber growth, “a powerful combination,” the analyst tells investors in a research note.