$599.74
3.04% today
NYSE, Nov 20, 07:19 pm CET
ISIN
LU1778762911
Symbol
SPOT

Spotify Technology Target price 2025 - Analyst rating & recommendation

Spotify Technology Classifications & Recommendation:

Buy
70%
Hold
28%
Sell
2%

Spotify Technology Price Target

Target Price $774.56
Price $618.53
Potential
Number of Estimates 42
42 Analysts have issued a price target Spotify Technology 2026 . The average Spotify Technology target price is $774.56. This is higher than the current stock price. The highest price target is
$1,111.32 79.67%
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, the lowest is .
A rating was issued by 47 analysts: 33 Analysts recommend Spotify Technology to buy, 13 to hold and 1 to sell.
Analysts don't have a crystal ball either, but they do represent the opinion of the market quite well. You should not take the price potential and the ratings as a recommendation to act. Rather, they serve as an additional building block for your own opinion or stock analysis.
Analyst Estimates: Analysts believe that the Spotify Technology stock has an average upside potential 2026 of . Most analysts recommend the Spotify Technology stock at Purchase.

Sales and Margin forecast 2025, 2026 to 2032

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Quarter Annually
Dec '24 2025
Estimates
Revenue Billion $ 18.08 20.27
18.31% 12.12%
EBITDA Margin 9.18% 12.95%
2,485.91% 41.14%
Net Margin 7.26% 6.33%
280.80% 12.82%

43 Analysts have issued a sales forecast Spotify Technology 2025 . The average Spotify Technology sales estimate is

$20.3b
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. This is
3.99% higher
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than the revenue of the last 12 months(TTM). The highest sales forecast is
$24.5b 25.76%
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, the lowest is
$16.7b 14.42%
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.

This results in the following potential growth metrics:

Revenue Estimates

2024 $18.1b 18.31%
2025
$20.3b 12.12%
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2026
$23.5b 15.78%
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2027
$26.8b 14.24%
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2028
$29.6b 10.29%
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2029
$33.0b 11.52%
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2030
$37.0b 12.25%
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2031
$41.0b 10.77%
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2032
$45.2b 10.32%
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40 Analysts have issued an Spotify Technology EBITDA forecast 2025. The average Spotify Technology EBITDA estimate is

$2.6b
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. This is
9.37% higher
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than the EBITDA of the last 12 months(TTM). The highest EBITDA forecast is
$3.2b 32.82%
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, the lowest is
$2.0b 15.28%
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.

This results in the following potential growth metrics and future EBITDA Margins:

EBITDA Estimates

2024 $1.7b 2,959.49%
2025
$2.6b 58.27%
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2026
$3.7b 39.41%
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2027
$4.8b 30.16%
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2028
$5.2b 9.59%
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2029
$6.1b 16.44%
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2030
$7.2b 18.75%
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2031
$8.4b 16.20%
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2032
$9.7b 15.57%
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EBITDA Margin

2024 9.18% 2,485.91%
2025
12.95% 41.14%
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2026
15.60% 20.46%
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2027
17.77% 13.91%
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2028
17.66% 0.62%
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2029
18.44% 4.42%
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2030
19.50% 5.75%
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2031
20.46% 4.92%
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2032
21.43% 4.74%
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41 Spotify Technology Analysts have issued a net profit forecast 2025. The average Spotify Technology net profit estimate is

$1.3b
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. This is
20.78% lower
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than the net profit for the last 12 months(TTM). The highest net profit forecast is
$1.8b 13.49%
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, the lowest is
$526m 67.56%
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.

This results in the following potential growth metrics and future Net Margins:

Net Profit Estimates

2024 $1.3b 313.91%
2025
$1.3b 2.19%
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2026
$2.8b 116.97%
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2027
$3.7b 31.77%
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2028
$4.2b 14.62%
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2029
$4.7b 12.08%
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2030
$5.4b 15.32%
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2031
$6.3b 15.50%
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2032
$7.1b 12.56%
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Net Margin

2024 7.26% 280.80%
2025
6.33% 12.82%
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2026
11.87% 87.52%
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2027
13.69% 15.33%
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2028
14.23% 3.94%
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2029
14.30% 0.49%
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2030
14.69% 2.73%
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2031
15.32% 4.29%
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2032
15.63% 2.02%
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Earnings per share, P/E ratio and EV/sales Estimates 2025, 2026 to 2032

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Quarter Annually
Dec '24 2025
Estimates
Earnings Per Share $ 6.35 6.24
301.59% 1.73%
P/E 99.11
EV/Sales 5.80

41 Analysts have issued a Spotify Technology forecast for earnings per share. The average Spotify Technology EPS is

$6.24
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. This is
17.68% lower
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than earnings per share in the financial year 2024. The highest EPS forecast is
$8.94 17.94%
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, the lowest is
$2.56 66.23%
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.

This results in the following potential growth metrics and future valuations:

Earnings Per Share

2024 $6.35 301.59%
2025
$6.24 1.73%
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2026
$13.54 116.99%
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2027
$17.84 31.76%
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2028
$20.45 14.63%
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2029
$22.92 12.08%
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2030
$26.43 15.31%
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2031
$30.53 15.51%
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2032
$34.36 12.55%
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P/E ratio

Current 81.60 31.81%
2025
99.11 21.46%
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2026
45.68 53.91%
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2027
34.66 24.12%
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2028
30.24 12.75%
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2029
26.98 10.78%
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2030
23.40 13.27%
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2031
20.26 13.42%
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2032
18.00 11.15%
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Based on analysts' sales estimates for 2025, the Spotify Technology stock is valued at an EV/Sales of

and an P/S ratio of .

This results in the following potential growth metrics and future valuations:

EV/Sales

Current 6.03 18.93%
2025
5.80 3.87%
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2026
5.01 13.63%
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2027
4.38 12.46%
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2028
3.97 9.33%
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2029
3.56 10.33%
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2030
3.17 10.91%
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2031
2.87 9.73%
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2032
2.60 9.36%
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P/S ratio

Current 6.44 20.26%
2025
6.19 3.84%
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2026
5.34 13.62%
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2027
4.68 12.46%
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2028
4.24 9.33%
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2029
3.80 10.33%
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2030
3.39 10.91%
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2031
3.06 9.73%
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2032
2.77 9.36%
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Current Spotify Technology Upgrades & Downgrades

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Analyst Rating Action Date
Barclays
Locked
Locked
Locked Nov 05 2025
Cantor Fitzgerald
Locked
Locked
Locked Nov 05 2025
Benchmark
Locked
Locked
Locked Nov 05 2025
Rosenblatt
Locked
Locked
Locked Nov 05 2025
Guggenheim
Locked
Locked
Locked Nov 05 2025
Rosenblatt
Locked
Locked
Locked Oct 29 2025
Rosenblatt
Locked
Locked
Locked Oct 01 2025
Analyst Rating Date
Locked
Barclays:
Locked
Locked
Nov 05 2025
Locked
Cantor Fitzgerald:
Locked
Locked
Nov 05 2025
Locked
Benchmark:
Locked
Locked
Nov 05 2025
Locked
Rosenblatt:
Locked
Locked
Nov 05 2025
Locked
Guggenheim:
Locked
Locked
Nov 05 2025
Locked
Rosenblatt:
Locked
Locked
Oct 29 2025
Locked
Rosenblatt:
Locked
Locked
Oct 01 2025

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