On August 10, Spotify Technology S.A. rose 3.03% in regular trading, trading at $503.22/share, with turnover of $71.43 million, extending its post-Q2 earnings recovery trajectory.

On the news front, Morgan Stanley raised its price target on Spotify to $640 from $610, maintaining an Overweight rating, noting that the stock's 14% year-to-date decline presents an attractive buying opportunity ahead of planned product launches including new AI features. Cantor Fitzgerald also recently raised its target price to $530.

While Q2 earnings of $3.03 per share missed the consensus estimate of $3.29 and Q3 monthly active user guidance came in below expectations at 788 million, consecutive target price upgrades from multiple institutions combined with AI product deployment signals have bolstered market confidence in valuation recovery. The company confirmed that its AI music feature launch will not require agreements with all major labels and announced an expanded partnership with independent distributor Merlin to support fan-created covers and remixes.

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