Top Wall Street Forecasters Revamp Spotify Expectations Ahead Of Q3 Earnings

Author: Avi Kapoor | November 04, 2025 02:59am

Spotify Technology S.A. (NYSE:SPOT) will release earnings results for the third quarter before the opening bell on Tuesday, Nov. 4.

Analysts expect the Luxembourg-based company to report quarterly earnings at $2.14 per share, up from $1.45 per share in the year-ago period. The consensus estimate for Spotify's quarterly revenue is $4.23 billion, compared to $3.99 billion a year earlier, according to Benzinga Pro.

On Sept. 30, Spotify announced a management transition. The company named Gustav Söderström and Alex Norström as Co-CEOs, succeeding founder Daniel Ek, who will step down as CEO to become Executive Chairman effective January 1, 2026.

Shares of Spotify fell 1.7% to close at $644.09 on Monday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.

• Goldman Sachs analyst Eric Sheridan downgraded the stock from Buy to Neutral and raised the price target from $765 to $770 on Sept. 30, 2025. This analyst has an accuracy rate of 77%.
• Argus Research analyst Joseph Booner initiated coverage on the stock with a Buy rating and a price target of $845 on Sept. 29, 2025. This analyst has an accuracy rate of 71%.
• JP Morgan analyst Doug Anmuth maintained an Overweight rating and increased the price target from $740 to $805 on Sept. 29, 2025. This analyst has an accuracy rate of 85%.
• Citigroup analyst Jason Bazinet maintained a Neutral rating and increased the price target from $715 to $750 on Sept. 9, 2025. This analyst has an accuracy rate of 75%.
• Guggenheim analyst Michael Morris reiterated a Buy rating and a price target of $850 on Sept. 3, 2025. This analyst has an accuracy rate of 77%

Considering buying SPOT stock? Here’s what analysts think:

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Posted In: SPOT