SPOT

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Overview
Forecast
Valuation

High

660.8068

Open

659.000

VWAP

649.12

Vol

1.21M

Mkt Cap

132.70B

Low

638.430

Amount

786.39M

EV/EBITDA(TTM)

65.43

Total Shares

199.05M

127.93B

EV/OCF(TTM)

44.97

P/S(TTM)

7.78

Spotify Technology SA a Luxembourg-based company, which offers digital music-streaming services. The Company enables users to discover new releases, which includes the latest singles and albums; playlists, which includes ready-made playlists put together by music fans and experts, and over millions of songs so that users can play their favorites, discover new tracks and build a personalized collection. Its users can either select Spotify Free, which includes only shuffle play or Spotify Premium, which encompasses a range of features, such as shuffle play, advertisement free, unlimited skips, listen offline, play any track and audio. The Company operates through a number of subsidiaries, including Spotify LTD and is present in over 20 countries. Its service offers a music listening experience without commercial breaks.

Market Estimates

Earnings Estimates

Revenue

YoY Chg

EPS

YoYChg

FY2025Q2

FY2025Q3

FY2025Q4

4.29B

+12.72%

4.50B

+12.9%

4.82B

+13.59%

Estimates Revision

The market is revising Downward the revenue expectations for Spotify Technology S.A. (SPOT) for FY2025, with the revenue forecasts being adjusted by -2.13% over the past three months. During the same period, the stock price has changed by 1.66%.

Revenue Estimates for FY2025

Revise Downward

-2.13%

In Past 3 Month

Stock Price

Go Up

+1.66%

In Past 3 Month

27 Analyst Rating

2.11% Upside

Wall Street analysts forecast SPOT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SPOT is 661.96 USD with a low forecast of 457.00 USD and a high forecast of 800.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

18 Buy

9 Hold

0 Sell

Moderate Buy

2.11% Upside

Current: 648.250

Low

457.00

Averages

661.96

High

800.00

2.11% Upside

Current: 648.250

Low

457.00

Averages

661.96

High

800.00

Loop Capital

Alan Gould

Hold

Maintains

$435 → $550

2025-05-02

Reason

Loop Capital

Alan Gould

Price Target

$435 → $550

2025-05-02

Maintains

Hold

Reason

Loop Capital analyst Alan Gould raised the firm's price target on Spotify to $550 from $435 and keeps a Hold rating on the shares. The company reported an in-line quarter beating on subs while missing on ad-supported monthly active users, though its profit adjusted for social charges, and particularly free cash flow, were ahead of guidance, the analyst tells investors in a research note.

Baird

Vikram Kesavabhotla

Buy

Maintains

$700 → $730

2025-05-01

Reason

Baird

Vikram Kesavabhotla

Price Target

$700 → $730

2025-05-01

Maintains

Buy

Reason

Baird raised the firm's price target on Spotify to $730 from $700 and keeps an Outperform rating on the shares. The firm updated its model following Q1 results.

Rosenblatt

Barton Crockett

Hold

Maintains

$658 → $657

2025-04-30

Reason

Rosenblatt

Barton Crockett

Price Target

$658 → $657

2025-04-30

Maintains

Hold

Reason

Evercore ISI Group

Mark Mahaney

Buy

Maintains

$700 → $650

2025-04-30

Reason

Evercore ISI Group

Mark Mahaney

Price Target

$700 → $650

2025-04-30

Maintains

Buy

Reason

Evercore ISI analyst Mark Mahaney lowered the firm's price target on Spotify to $650 from $700 and keeps an Outperform rating on the shares following what the firm calls "mixed" Q1 results. Fundamental trends were mixed, but adjusting for material foreign exchange and Social Charge items, this "would arguably have been a standard SPOT Modest Beat & Raise/Bracket Quarter," adds the analyst, whose FY26 operating income forecast has been reduced 12%.

JP Morgan

Doug Anmuth

Buy

Maintains

$640 → $670

2025-04-30

Reason

JP Morgan

Doug Anmuth

Price Target

$640 → $670

2025-04-30

Maintains

Buy

Reason

JPMorgan raised the firm's price target on Spotify to $670 from $640 and keeps an Overweight rating on the shares. The firm recommends buying the shares on the post-earnings selloff. Spotify continues to drive "healthy" mid-teens growth and make progress across its medium-term financial targets of 30%-40% gross margins and 10%-plus operating margin, the analyst tells investors in a research note.

Macquarie

Ross Compton

Buy

Maintains

$665

2025-04-30

Reason

Macquarie

Ross Compton

Price Target

$665

2025-04-30

Maintains

Buy

Reason

See All Ratings

Valuation Metrics

The current forward P/E ratio for Spotify Technology SA (SPOT.N) is 58.05, compared to its 5-year average forward P/E of -92.10. For a more detailed relative valuation and DCF analysis to assess Spotify Technology SA 's fair value, click here.

Forward PE

The forward P/E ratio is a valuation metric that divides a company's current stock price by its estimated future earnings per share over the next 12 months.

N/A

5Y Average PE

-92.10

Current PE

58.05

Overvalued PE

155.10

Undervalued PE

-339.30

Forward EV/EBITDA

The forward EV/EBITDA ratio is a valuation metric that divides a company's enterprise value (EV) by its estimated future earnings before interest, taxes, depreciation, and amortization (EBITDA) over the next 12 months.

N/A

5Y Average EV/EBITDA

-49.86

Current EV/EBITDA

43.75

Overvalued EV/EBITDA

214.92

Undervalued EV/EBITDA

-314.64

Forward PS

The forward P/S ratio is a valuation metric that divides a company's current stock price by its estimated future sales (or revenue) per share over the next 12 months.

Strongly Overvalued

5Y Average PS

3.29

Current PS

6.51

Overvalued PS

4.75

Undervalued PS

1.83