Evercore raises Spotify stock target to USD 700.00

Published on 10/01/2026 at 13:29 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Spotify stock costs EUR 435.00 on October 1, 2026 versus EUR 430.25, up 1.10 percent. Revenue hit USD 5.55 billion in second-quarter 2026.

SPOT, LU1778762911, Illustration mit AI erstellt.

Spotify stock (ISIN LU1778762911) was trading at EUR 435.00 at Lang & Schwarz on October 1, 2026 at 1:18 p.m. CEST, plus 1.10 percent versus the prior close of EUR 430.25. On September 29, 2026, Evercore ISI analyst Mark Mahaney raised the price target from USD 650.00 to USD 700.00 while maintaining an Outperform rating, according to Markets Insider.

Evercore lifts the valuation bar

The target increase gives Spotify a fresh analyst reference point in U.S. dollars, separate from the euro quotation used by German investors. It also arrives before the company's next scheduled report, making the October earnings date the next concrete test for the higher valuation.

The latest quarter delivered operating scale as well as subscriber growth. Zacks reported that Spotify generated USD 5.55 billion in revenue in the second quarter of 2026, up 14.00 percent year over year, while Premium subscribers reached 300 million, 1 million above management guidance. The same report said earnings per share came to USD 3.03, below the USD 3.27 consensus estimate.

Subscribers grow as earnings lag

The contrast is material: revenue growth and subscriber additions exceeded the operating plan, but adjusted earnings per share missed the cited consensus by USD 0.24. Spotify also projected 788 million monthly active users and 305 million Premium subscribers for the third quarter of 2026, according to Zacks.

Analyst sentiment remains constructive but not uniform. MarketBeat reported on September 22, 2026, that Erste Group Bank lowered its fiscal 2027 earnings-per-share estimate to USD 17.52 from USD 17.74, while the consensus estimate stood at USD 14.19, in its MarketBeat report.

October results set the next marker

Spotify will publish third-quarter 2026 results before market open on October 22, 2026, with an earnings call at 8:00 a.m. Eastern Time, as StockTitan reported. The company operates through Premium and Ad-Supported segments, so subscriber additions, advertising monetization and earnings conversion will be central figures in that update.