Spotify Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Spotify Technology S.A. SPOT will release earnings results for its third quarter, after the closing bell on Tuesday, Nov. 12.

Analysts expect the Luxembourg City, Luxembourg-based bank to report quarterly earnings at $1.84 per share, up from 36 cents per share in the year-ago period. Spotify projects to report revenue of $4.31 billion for the recent quarter, compared to $3.68 billion a year earlier, according to data from Benzinga Pro.

On Monday, Benchmark analyst Matthew Harrigan maintained Spotify with a Buy and raised the price target from $430 to $440.

Spotify shares gained 2.4% to close at $410.19 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.

• Deutsche Bank analyst Benjamin Black maintained a Buy rating and raised the price target from $430 to $440 on Oct. 6. This analyst has an accuracy rate of 75%.
• Morgan Stanley analyst Manan Gosalia maintained an Overweight rating and raised the price target from $400 to $430 on Oct. 23. This analyst has an accuracy rate of 74%.
• Rosenblatt analyst Barton Crockett maintained a Buy rating and increased the price target from $399 to $438 on Oct. 17. This analyst has an accuracy rate of 71%.
• Keybanc analyst Justin Patterson maintained an Overweight rating and raised the price target from $440 to $490 on Oct. 16. This analyst has an accuracy rate of 69%.
• Cantor Fitzgerald analyst Deepak Mathivanan reiterated a Neutral rating with a price target of $340 on Sept. 30. This analyst has an accuracy rate of 79%.

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

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