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Swedish audio streaming service
Spotify is a Swedish freemium music streaming service provider founded in April 2006 by Daniel Ek and Martin Lorentzon. As of March 2026, it was one of the largest providers of music streaming services, with over 777 million monthly active users comprising 300 million paying subscribers. Spotify is listed on the New York Stock Exchange in the form of American depositary receipts.
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UBS Group cut their price target on shares of Spotify Technology from $690.00 to $675.00 and set a "buy" rating on the stock in a report on Monday.
Spotify's stock is down nearly 30% year-over-year, with UBS dropping its price target due to cost pressures despite a generally bullish mood.
Spotify Technology (SPOT) continues to launch differentiated products and features that support addi