New York, Jan 21, 2026, 14:06 EST — Regular session
- Spotify shares dipped roughly 2.3% in midday trading on the NYSE
- Barclays cuts its SPOT price target to $625 from $700 but maintains an Overweight rating
- A U.S. court has issued a preliminary injunction concerning alleged scraping activities and upcoming torrent releases connected to Anna’s Archive
Spotify Technology S.A. shares slipped $11.53, roughly 2.3%, settling at $499.80 by mid-afternoon Wednesday. The stock started the day close to $512 and dipped to a low near $496. Over the last 52 weeks, the price has swung between $240.49 and $625.00.
This matters as investors face a packed slate of catalysts: the next earnings report is looming, and the stock is suddenly swarming with legal news and analyst talk. For a name priced on execution, it won’t take much to unsettle it.
Wall Street’s tone has grown pickier as 2026 gets underway, with rapid shifts in target prices signaling that momentum isn’t just about upgrades. For Spotify, the focus is on whether pricing power and cost control can meet the high bar set by investors.
Barclays analyst Kannan Venkateshwar maintained an “Overweight” rating on Spotify but trimmed his price target to $625 from $700, a report out Tuesday shows. Other firms have similarly lowered their targets recently, though most remain bullish on the stock. (GuruFocus)
On the legal front, a preliminary injunction — a court order that can halt a defendant’s activities during litigation — was issued in a copyright case involving Spotify and major record labels against “Anna’s Archive,” a U.S. court filing dated Jan. 20 shows. The order instructs domain registries and service providers to block access to multiple Anna’s Archive domains and to preserve evidence that might reveal the operators behind them. (Music Business Worldwide)
The complaint defines “scraping” as the unauthorized copying of massive amounts of data. It accuses Anna’s Archive of taking metadata for roughly 256 million audio tracks and 86 million music files from Spotify without permission. According to the filing, Anna’s Archive asserted that these files accounted for 99.6% of Spotify “listens,” and warned of large-scale releases through BitTorrent, a peer-to-peer network commonly linked to piracy.
Spotify has turned to pricing adjustments. Last week, it announced a $1 hike in its U.S. Premium plan, pushing the monthly fee to $12.99. The company is applying similar increases in several other countries. (Reuters)
This shifts focus onto churn—the danger users will quit—and how far Spotify can raise prices before ceding ground to competitors like Apple and Amazon.
The situation could shift. A strained consumer environment might undercut the ability to maintain price hikes, and legal moves against piracy rings often drag on, with unclear effects on actual distribution.
All eyes turn to Feb. 10, when Spotify is set to release its Q4’25 earnings at 8:00 a.m. Eastern. The focus will be on subscriber numbers, ad sales momentum, and any news on the piracy lawsuit and enforcement moves. (Webinar)
