Added to YB: 2026-02-20
Pitch date: 2026-02-18
SPOT [neutral]
Spotify Technology S.A.
+0.85%
current return
Author Info
No bio for this author
Company Info
Spotify Technology S.A., together with its subsidiaries, provides audio streaming subscription services worldwide.
Market Cap
$83.2B
Pitch Price
$481.21
Price Target
N/A
Dividend
N/A
EV/EBITDA
33.72
P/E
38.46
EV/Sales
4.51
Sector
Entertainment
Category
growth
Spotify: almost a goodbye after a +450% love story
SPOT (exited position): Sold at $550 (+450%) after thesis largely played out: GM hit 32.5% target, $2.9B FCF in 2025. Concerns: multi-vertical vision stalled, ad inflection still distant, AI competition risk, Ek stepped down as CEO, GM structurally capped near 33-37%. Needs 18-24% rev CAGR for 15% return vs 9.6% guidance. RR 3/10. Would re-enter at $373 (-20%) with SAX ads inflecting or new verticals driving ARPU.
Read full article (8 min)