Oppenheimer Raises Spotify (SPOT) Target on Global Growth and Pricing Power

Spotify Technology S.A. (NYSE:SPOT) is one of the best stocks to invest in for long-term growth. On August 18, Oppenheimer maintained its Outperform rating on Spotify Technology S.A. (NYSE:SPOT), while increasing the price target from $750 to $825. That implies a solid 19.2% upside from the current price of $692.28.

The firm cited the increase in the Swedish company’s Premium subscription outside the US, which was consistent with its upgrade thesis and noted the company’s improving pricing power.

Spotify’s pricing power stems from its market leadership in music streaming, while its huge client base attracts podcasts. The company’s loyal base, low churn rate, a its proprietary algorithms for personalized content discovery make the service hard to replicate.

As a result of Spotify’s superior pricing power, the company was able to generate a solid profit of $1.23 billion in 2024, representing a net margin of 7.26%. However, the company reported a loss of $97.55 million in Q2 2025, due to payroll taxes levied in some European countries on the value of employee stock options.

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