How Much Upside is Left in Spotify (SPOT)? Wall Street Analysts Think 32.12%

Core Viewpoint - Spotify's stock (SPOT) has shown a modest gain of 0.4% over the past four weeks, closing at $581.19, with analysts suggesting a potential upside of 32.1% based on a mean price target of $767.85 [1] Price Targets and Estimates - The average price target consists of 33 estimates, ranging from a low of $525.00 to a high of $900.00, with a standard deviation of $88.68, indicating variability among analysts [2] - The lowest estimate suggests a decline of 9.7%, while the highest indicates a potential upside of 54.9% [2] - Analysts' price targets should be approached with caution, as their reliability has been questioned, and they often do not accurately predict stock price movements [3][7] Earnings Estimates - Analysts are increasingly optimistic about Spotify's earnings, as indicated by a trend of higher EPS estimates, which correlates with potential stock price increases [4][11] - Over the past 30 days, three earnings estimates have been revised upward, leading to a 2.5% increase in the Zacks Consensus Estimate for the current year [12] Analyst Consensus and Ranking - Spotify holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate factors, suggesting a strong potential for upside [13] - While the consensus price target may not be a reliable measure of potential gains, the direction indicated by these targets appears to be a useful guide for investors [14]