SPOT

SpotifyD

NYSE / Media & Entertainment

At close

2026-07-18

Current thesis

Primary company sources support a still-constructive operating setup: Q1 user growth remained double digit, gross margin reached 33%, and Investor Day added concrete monetization levers around add-ons, ticketing, podcasts, and AI-personalized experiences [#IR-2026-04-28] [#IR-2026-05-21].

Posture

Defensive

Lead driver

Value

What changed

Value remains the lead driver in the composite, 7D delta -0.1.

What can break

AI music and remix tools require ongoing rights-holder alignment; licensing or creator pushback could limit rollout scope despite announced partnerships.

Momentum

Value

Sentiment

Setup hits (3d)

— · Net —

AI TargetsBase $540.00 · Bull $640.00 · Bear $400.00

Data freshness

Prices

As of 2026-07-18

Fundamentals

As of 2026-07-17 • Vendor: Data Vendor v1

Scores

As of 2026-07-18 • Model: HYBRID_IC_RP

AI Memo

As of 2026-06-12 • Model: RankAlpha Sentiment Codex

Investment thesis

As of 2026-07-18

Supporting evidence

What

Grade D · Defensive

Confidence Medium · Net —

Target $595.48

Why

Momentum23 · Δ7d -3.7

Value50 · Δ7d -0.1

Sentiment57 · Δ7d -3.5

So what

Weak posture. Prioritize risk control and patience.

Setup hits not loaded

Load setup hits to see net bias and recent triggers.

Load setup hits

Lead driver: Value · See fundamentals

Momentum

26% active weight

Current posture

7d trendSoftening

Δ7d

-3.7

Δ21d

-5.7

Value

39% active weight

Current posture

7d trendFlat

Δ7d

-0.1

Δ21d

-0.4

Sentiment

34% active weight

Current posture

7d trendSoftening

Δ7d

-3.5

Δ21d

-6.1

Why this grade

Composite grade D. Momentum 23.4 / Value 50.3 / Sentiment 56.6

Fundamentals (TTM)

As of 2026-07-17

Market Cap

$98.32B

Beta

1.66

Shares Out

205.62M

P/E (TTM)

76.6

P/S (TTM)

6.17

P/FCF (TTM)

35.76

Rev YoY

+20.3%

EPS YoY

+254.0%

Gross Margin

+32.2%

Op Margin

+11.7%

Net Debt

-$8.82B

Current Ratio

2.06

As of 2026-07-18 • Updated nightlySource: Internal modelMethodology