FY2028 Earnings Estimate for SPOT Issued By KeyCorp

Spotify Technology (NYSE:SPOT) – Analysts at KeyCorp issued their FY2028 earnings estimates for shares of Spotify Technology in a research note issued on Thursday, July 23rd. KeyCorp analyst J. Patterson forecasts that the company will post earnings of $27.06 per share for the year. KeyCorp currently has a “Overweight” rating and a $680.00 price target on the stock. The consensus estimate for Spotify Technology’s current full-year earnings is $14.46 per share.

Other research analysts have also issued reports about the company. Morgan Stanley upped their target price on Spotify Technology from $590.00 to $610.00 and gave the company an “overweight” rating in a research report on Friday, May 22nd. Wall Street Zen lowered Spotify Technology from a “buy” rating to a “hold” rating in a research note on Saturday. Wells Fargo & Company cut their price objective on shares of Spotify Technology from $600.00 to $570.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. The Goldman Sachs Group lowered their target price on shares of Spotify Technology from $670.00 to $600.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Finally, Canaccord Genuity Group cut their price target on shares of Spotify Technology from $750.00 to $720.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $630.70.

Spotify Technology Trading Up 3.5%

Shares of SPOT opened at $512.11 on Wednesday. The firm has a market cap of $105.43 billion, a PE ratio of 40.81, a P/E/G ratio of 1.23 and a beta of 1.56. Spotify Technology has a 12 month low of $405.00 and a 12 month high of $748.30. The stock has a fifty day moving average price of $484.06 and a 200-day moving average price of $486.68.

Spotify Technology (NYSE:SPOT) last announced its earnings results on Tuesday, April 28th. The company reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.41 by $0.63. The company had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.23 billion. Spotify Technology had a net margin of 15.56% and a return on equity of 35.73%. Spotify Technology’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the firm earned $1.07 earnings per share.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. JPL Wealth Management LLC purchased a new position in shares of Spotify Technology during the 3rd quarter valued at approximately $35,000. Kemnay Advisory Services Inc. purchased a new position in Spotify Technology in the fourth quarter valued at $32,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Spotify Technology in the fourth quarter worth about $35,000. Osbon Capital Management LLC purchased a new stake in shares of Spotify Technology during the 4th quarter worth about $35,000. Finally, Wilmington Savings Fund Society FSB grew its position in shares of Spotify Technology by 85.7% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 65 shares of the company’s stock valued at $38,000 after acquiring an additional 30 shares during the period. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Spotify Technology

In other Spotify Technology news, Director Thomas O. Staggs sold 5,477 shares of Spotify Technology stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $526.00, for a total transaction of $2,880,902.00. Following the completion of the sale, the director directly owned 3,619 shares in the company, valued at approximately $1,903,594. The trade was a 60.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Sven Hans Martin Lorentzon sold 35,380 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $525.73, for a total transaction of $18,600,327.40. Following the completion of the sale, the director directly owned 6,383 shares in the company, valued at $3,355,734.59. This trade represents a 84.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 111,442 shares of company stock valued at $54,757,553 over the last quarter. Company insiders own 0.40% of the company’s stock.

Key Stories Impacting Spotify Technology

Here are the key news stories impacting Spotify Technology this week:

• Positive Sentiment: KeyCorp maintains an Overweight rating and $680 price target. The firm projects Spotify will earn $27.06 per share in FY2028, well above its current-year consensus estimate of $14.46, signaling confidence in the company’s long-term earnings growth.
• Positive Sentiment: Potentially strong user growth is supporting the investment case. A Q2 preview argues that Spotify’s shares look attractive and expects solid user additions, which could help offset concerns about previously cautious second-quarter guidance. Spotify Q2 Preview: Expecting Strong User Growth, Shares Attractive
• Positive Sentiment: Spotify is expanding engagement through Snapchat. Snapchat’s new real-time music-sharing integration could increase Spotify content discovery and listening, although the near-term financial contribution is uncertain. Snapchat introduces real-time music sharing through Spotify integration
• Neutral Sentiment: Q2 results are scheduled for August 4. Investors are likely to watch subscriber growth, advertising trends, margins and management’s outlook, particularly because Spotify’s prior Q1 report included softer-than-expected Q2 guidance.
• Neutral Sentiment: Recent market coverage notes that Spotify has outperformed the broader market in the latest session, but the move appears more related to positioning and expectations ahead of earnings than to a new fundamental result. Spotify Rises Higher Than Market: Key Facts
• Negative Sentiment: KeyCorp lowered several near- and medium-term EPS forecasts. Its estimates fell to $3.78 for Q2 2026, $4.03 for Q3, $4.92 for Q4, $16.64 for FY2026 and $21.61 for FY2027. Erste Group also trimmed its FY2027 estimate to $17.60, indicating some pressure on earnings expectations.
• Negative Sentiment: Pre-earnings indicators are mixed. Zacks says Spotify lacks the combination of factors typically associated with a likely earnings beat, increasing the risk of volatility around the August report. Spotify Earnings Expected to Grow: Should You Buy?

About Spotify Technology

Spotify Technology is a digital audio streaming company best known for its on-demand music service and a growing portfolio of spoken-word content. Founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon and launched commercially in 2008, the company offers a cross-platform app that enables users to discover, stream and organize music, podcasts and other audio. Its primary consumer products include a free, ad-supported tier and a paid Spotify Premium subscription that provides ad-free listening, offline playback and higher-quality audio streams.