Spotify's stock was downgraded to 'hold' following a 22% rally and mixed Q2 FY26 results. While premium subscription revenue remains strong, growth in the ad-supported segment is slow, leading to lowered revenue and earnings forecasts. Management expects Q3 revenue of €5.0 billion and 305 million premium subscribers, but consensus growth estimates are being revised downward. With a high forward price-to-earnings ratio of 38x and technical resistance, the stock's risk outweighs potential gains ahead of the Q3 earnings report on October 22.
Spotify's market capitalization stands at $109.65 billion as of October 16, 2026, 19:42 WIB, with a trading volume of 1,614,189 shares on Pluang. The stock price is currently $532.35, showing a slight decline of 0.19% in the last day. Despite the recent downgrade and mixed earnings outlook, Pluang investors hold the stock for an average of 111 days, with a strong buy sentiment at 94% of order activity.
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