Core Insights - Spotify announced a management transition, appointing Gustav Söderström and Alex Norström as Co-CEOs, succeeding founder Daniel Ek, who will become Executive Chairman effective January 1, 2026 [1][2] Recent Earnings - Spotify's stock declined following a surprise second-quarter loss and weak guidance, leading analysts to lower price forecasts despite strong user growth [3] - The company added 8 million premium subscribers and 18 million monthly active users, but missed revenue expectations due to foreign exchange impacts and higher social charges [3] Analyst Perspectives - KeyBanc's Justin Patterson noted double-digit subscriber and MAU growth but highlighted ad softness and foreign exchange headwinds, while still considering Spotify attractive heading into 2026 [4] - Benchmark's Mark Zgutowicz cited weak ARPU guidance and soft ad performance as reasons for trimming estimates, cutting his target from $840 to $800, but pointed to long-term upside from pricing power and podcast margin expansion [4] - Bank of America Securities analyst Jessica Reif Ehrlich expressed a bullish outlook, stating that strong engagement and multiple monetization levers outweigh near-term ad challenges, viewing the stock pullback as a buying opportunity [5] Stock Performance - Spotify shares were down 2.54% at $710.00 during premarket trading, trading within a 52-week range of $362.31 to $785.00 [6]