KeyCorp Reduces Earnings Estimates for Spotify Technology

Spotify Technology (NYSE:SPOT) – Research analysts at KeyCorp reduced their Q2 2026 earnings per share estimates for shares of Spotify Technology in a report released on Thursday, July 23rd. KeyCorp analyst J. Patterson now expects that the company will earn $3.78 per share for the quarter, down from their previous forecast of $3.82. 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 $14.51 per share. KeyCorp also issued estimates for Spotify Technology’s Q3 2026 earnings at $4.03 EPS, Q4 2026 earnings at $4.92 EPS, FY2026 earnings at $16.64 EPS and FY2027 earnings at $21.61 EPS.

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

A number of other research firms have also recently commented on SPOT. Citizens Jmp raised their price target on shares of Spotify Technology from $600.00 to $625.00 and gave the stock a “market outperform” rating in a report on Friday, May 22nd. Wells Fargo & Company dropped 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. UBS Group cut their price objective on shares of Spotify Technology from $735.00 to $690.00 and set a “buy” rating on the stock in a research report on Friday, July 10th. Wall Street Zen downgraded Spotify Technology from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, JPMorgan Chase & Co. increased their price target on Spotify Technology from $600.00 to $650.00 and gave the stock an “overweight” rating in a report on Friday, May 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $630.70.

Spotify Technology Stock Performance

Shares of SPOT stock opened at $495.05 on Tuesday. Spotify Technology has a fifty-two week low of $405.00 and a fifty-two week high of $748.30. The stock has a 50 day simple moving average of $482.63 and a two-hundred day simple moving average of $487.08. The company has a market cap of $101.92 billion, a P/E ratio of 39.45, a PEG ratio of 1.19 and a beta of 1.56.

Insider Activity at Spotify Technology

In related news, CEO Gustav Soderstrom sold 20,833 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $430.72, for a total transaction of $8,973,189.76. Following the transaction, the chief executive officer directly owned 20,492 shares in the company, valued at approximately $8,826,314.24. The trade was a 50.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Alex Norstrom sold 5,436 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $480.86, for a total transaction of $2,613,954.96. Following the transaction, the chief executive officer owned 67,582 shares in the company, valued at approximately $32,497,480.52. This trade represents a 7.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 111,442 shares of company stock valued at $54,757,553 over the last three months. Insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Spotify Technology

Hedge funds and other institutional investors have recently modified their holdings of the business. JPL Wealth Management LLC bought a new position in shares of Spotify Technology in the third quarter valued at approximately $35,000. Kemnay Advisory Services Inc. purchased a new position in Spotify Technology in the fourth quarter worth $32,000. Newbridge Financial Services Group Inc. purchased a new position in Spotify Technology in the fourth quarter worth $35,000. Osbon Capital Management LLC bought a new position in Spotify Technology in the 4th quarter valued at $35,000. Finally, Wilmington Savings Fund Society FSB grew its stake in Spotify Technology by 85.7% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 65 shares of the company’s stock valued at $38,000 after purchasing an additional 30 shares during the period. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Company Profile

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.