Spotify Technology (SPOT) Set to Announce Quarterly Earnings on Wednesday

Spotify Technology (NYSE:SPOTGet Rating) is scheduled to be releasing its earnings data before the market opens on Wednesday, April 27th. Analysts expect Spotify Technology to post earnings of ($0.19) per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Spotify Technology (NYSE:SPOTGet Rating) last issued its quarterly earnings data on Wednesday, February 2nd. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.45) by $0.21. Spotify Technology had a negative return on equity of 1.27% and a negative net margin of 0.34%. The business had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same period in the prior year, the business earned ($0.79) earnings per share. The business’s revenue was up 24.0% on a year-over-year basis. On average, analysts expect Spotify Technology to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Shares of NYSE:SPOT opened at $137.41 on Wednesday. Spotify Technology has a 52-week low of $118.20 and a 52-week high of $305.60. The stock’s fifty day simple moving average is $145.51 and its 200-day simple moving average is $204.34. The company has a market capitalization of $26.14 billion, a P/E ratio of -109.93 and a beta of 1.67.

Several hedge funds have recently bought and sold shares of the company. Carroll Investors Inc acquired a new stake in shares of Spotify Technology in the fourth quarter valued at about $40,000. Zullo Investment Group Inc. acquired a new stake in shares of Spotify Technology in the fourth quarter valued at about $59,000. Vident Investment Advisory LLC grew its stake in shares of Spotify Technology by 3.6% in the fourth quarter. Vident Investment Advisory LLC now owns 10,330 shares of the company’s stock valued at $2,418,000 after buying an additional 356 shares in the last quarter. JustInvest LLC grew its stake in shares of Spotify Technology by 47.6% in the fourth quarter. JustInvest LLC now owns 1,759 shares of the company’s stock valued at $412,000 after buying an additional 567 shares in the last quarter. Finally, Flagship Harbor Advisors LLC grew its stake in Spotify Technology by 54.9% during the 4th quarter. Flagship Harbor Advisors LLC now owns 2,442 shares of the company’s stock valued at $572,000 after purchasing an additional 865 shares in the last quarter. Institutional investors and hedge funds own 56.36% of the company’s stock.

Several analysts have recently issued reports on the company. Bank of America reduced their price objective on Spotify Technology from $352.00 to $262.00 and set a “buy” rating on the stock in a research report on Tuesday, February 8th. KeyCorp reduced their price objective on Spotify Technology from $260.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, April 14th. Rosenblatt Securities assumed coverage on Spotify Technology in a research report on Tuesday. They issued a “neutral” rating and a $150.00 price objective on the stock. Morgan Stanley reduced their price objective on Spotify Technology from $300.00 to $225.00 and set an “overweight” rating on the stock in a research report on Friday, April 8th. Finally, UBS Group reduced their price objective on Spotify Technology from $275.00 to $185.00 and set a “neutral” rating on the stock in a research report on Monday, April 4th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $236.14.

Spotify Technology Company Profile (Get Rating)

Spotify Technology SA, together with its subsidiaries, provides audio streaming services worldwide. It operates through Premium and Ad-Supported segments. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.

Further Reading

Earnings History for Spotify Technology (NYSE:SPOT)

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