Spotify (NYSE: spot) Investor Day 2026 It seems to have impressed Wall Street experts as much as the live broadcast stock It received seven bullish analyst updates and was up nearly 13% between the May 20 close and press time two days later.
In fact, Citizens JMP analyst Matthew Condon has pointed to increased adoption of AI (Amnesty International), as well as improving its remix and cover functionality through a partnership with Universal Music Group, when it reissued a “buy” rating and raised its price target from $600 to $625.
The Wall Street expert also pointed to the wealth of data points that Spotify has amassed over its decades of operations and highlighted, as part of his bullish case, the attractive valuation of SPOT stock.
However, despite the apparent optimism regarding both the stock and the business, Citizens JMP was far from the most bullish house regarding the music streaming platform.
Analysts update Spotify stock price forecasts
Specifically, among the analysts who revised their Spotify stock price targets on May 22, Canaccord Genuity’s Maria Reps proved to be the most bullish. According to a Wall Street expert, SPOT shares are expected to rise 46.94% to $720 over the next 12 months and are rated a “buy.”
Other recommendations were issued that came with higher expectations than those issued by citizens JP Morgan (New York Stock Exchange: JBM) Doug Anmuth – upgrade from $600 to $650 – and Justin Patterson from KeyBanc at $680.
Meanwhile, Morgan Stanley (NYSE: Ms) Sean Diffley and Wells Fargo (New York Stock Exchange: WFC) Steven Cahall gave slightly lower price targets at $610 and $600, respectively, despite offering positive recommendations for the stock.
Finally, Rosenblatt Securities analyst Barton Crockett broke the May 22 trend when he assigned a “neutral” rating and raised his price target for the next 12 months from $500 to a relatively modest $534.
Elsewhere, if the recent wave of Wall Street positivity translates into investor confidence, it would represent a welcome change from the pre-2026 trend.
Spotify stock, at press time on May 22, is 13% in the red year-to-date (YTD) and is priced at $490, down more than 23% in the past 12 months, and trading roughly 36% below its all-time high (ATH) of $785.
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