In mid-January, Spotify Technology announced it will increase its Individual Premium plan price from $11.99 to $12.99 per month in the U.S., marking its first adjustment since June 2024. The updated pricing will also apply to multi-user plans: the Duo plan will rise by $2 to $18.99, the Family plan by $2 to $21.99 for up to six accounts, and the Student plan by $1 to $6.99. The company cited continued investment in exclusive podcast content and improvements to audio quality and recommendation algorithms as drivers for the change, while projecting that the modest increase could boost annual Premium plan revenues by roughly $400 million, based on the current subscriber base of 223 million MAUs worldwide.

During the third quarter, Csenge Advisory Group expanded its Spotify position by 277.8%, acquiring an additional 2,317 shares to reach a total holding of 3,151 shares valued at $2.199 million as of its latest SEC filing. Several other smaller asset managers initiated or increased positions: Knuff & Co LLC and Total Investment Management Inc. each opened new stakes in the second quarter valued at $27,000 and $29,000 respectively; Heartwood Wealth Advisors LLC added 41 shares in Q3 worth $31,000; and GFG Capital LLC commenced a $33,000 stake in Q2. Collectively, institutional investors now control 84.09% of Spotify’s outstanding shares.

Analysts remain broadly optimistic, with two firms issuing Strong Buy ratings, 23 assigning Buy and nine holding at Hold, yielding a consensus recommendation of Moderate Buy. Average target estimates stand at $743.90 per share. Recent broker actions include UBS Group reducing its target from $850 to $800, Barclays cutting from $750 to $700, and Benchmark trimming from $860 to $760. Argus and Citizens Jmp maintain constructive views with respective Buy and Market Outperform stances. The majority of forecasts anticipate double-digit EPS growth, with Street consensus calling for roughly $10.30 in earnings per share for the current fiscal year, up from $3.83 realized last quarter.