Spotify (SPOT, Financial) users experienced technical difficulties as the popular music streaming platform faced outages on both its app and website. The interruptions led to widespread reports from users encountering problems accessing the service.
Responding to the situation, Spotify's Status account on X acknowledged the disruptions, stating that the company is aware of the issues and is actively investigating the cause. The company has not yet detailed the specific nature or scope of the problem, but the acknowledgment indicates that technical teams are working to resolve the situation swiftly.
This outage highlights the digital service's reliance on seamless functionality and the impact even brief disruptions can have on user experience. As of now, the timeline for restoring full service remains uncertain. Users are advised to stay updated through official Spotify channels as the company works towards a resolution.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 35 analysts, the average target price for Spotify Technology SA (SPOT, Financial) is $637.44 with a high estimate of $738.88 and a low estimate of $377.94. The average target implies an upside of 11.37% from the current price of $572.39. More detailed estimate data can be found on the Spotify Technology SA (SPOT) Forecast page.
Based on the consensus recommendation from 39 brokerage firms, Spotify Technology SA's (SPOT, Financial) average brokerage recommendation is currently 2.2, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Spotify Technology SA (SPOT, Financial) in one year is $250.19, suggesting a downside of 56.29% from the current price of $572.39. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Spotify Technology SA (SPOT) Summary page.
