Spotify Slips 0.65% as Analysts Rev Up Price Targets Ranking 64th in Market Volume

On August 18, 2025, Spotify Technology (SPOT) closed with a 0.65% decline, trading at $731.20. The stock recorded a daily trading volume of $1.08 billion, a 51.09% drop from the previous day, ranking 64th in market volume. Analyst activity and strategic pricing adjustments have emerged as key drivers for the stock’s near-term trajectory.

Guggenheim and Oppenheimer analysts raised price targets for Spotify, reflecting confidence in its long-term profitability. Guggenheim’s Michael Morris lifted his target to $850 from $800, citing recent price increases in Germany, Austria, and Switzerland—ranging from 8% to 22%—which are expected to boost gross margins. Oppenheimer’s Jason Helfstein also raised his target to $825, emphasizing Spotify’s competitive positioning in expanding non-music content like audiobooks and podcasts, which reduce royalty costs.

The pricing strategy, now covering approximately 25% of Spotify’s global premium subscribers, aligns with broader industry trends of aligning subscription fees with value delivered. Analysts project further price hikes in major markets, including the U.S., by year-end, with financial benefits anticipated in early 2026. These adjustments are seen as critical to sustaining growth in a sector where rising licensing costs and subscriber acquisition challenges persist.

The backtest results for a strategy involving the top 500 stocks by daily trading volume showed a cumulative return of 23.4% from 2022 to the present, generating $2,340 in profit. While the returns were positive, they underscored the conservative nature of volume-based trading approaches in this timeframe.