Monness analyst Brian White has maintained their neutral stance on SPOT stock, giving a Hold rating on October 30.
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Brian White has given his Hold rating due to a combination of factors impacting Spotify’s current market position. Despite a strong performance in 2024 and a continued rise in 2025, Spotify’s valuation has become stretched, primarily due to its role as a safe haven during turbulent market conditions. While the company benefits from a favorable long-term trend and increased operational efficiency, it faces significant competition, thin margins, and challenging macroeconomic conditions.
Additionally, while Spotify’s revenue and subscriber growth are expected to continue, the growth rate is anticipated to decelerate. The projected revenue growth for the third quarter of 2025 is lower than the previous year, indicating a slowdown. Furthermore, recent strategic changes, such as leadership transitions and new partnerships, add an element of uncertainty to the company’s future trajectory. These factors collectively contribute to the Hold rating, suggesting a cautious approach to the stock at this time.
In another report released on October 30, Citi also assigned a Hold rating to the stock with a $750.00 price target.