Equities Analysts Issue Forecasts for Spotify Technology S.A.’s Q2 2022 Earnings (NYSE:SPOT)

Spotify Technology S.A. (NYSE:SPOTGet Rating) – Research analysts at Oppenheimer cut their Q2 2022 EPS estimates for shares of Spotify Technology in a note issued to investors on Wednesday, April 27th. Oppenheimer analyst J. Helfstein now anticipates that the company will post earnings per share of ($0.74) for the quarter, down from their prior forecast of $0.21. Oppenheimer also issued estimates for Spotify Technology’s Q3 2022 earnings at $0.07 EPS, Q4 2022 earnings at ($0.12) EPS, FY2022 earnings at ($0.56) EPS and FY2023 earnings at $0.75 EPS.

Several other equities analysts have also recently commented on the stock. Bank of America reduced their price objective on shares of Spotify Technology from $352.00 to $262.00 and set a “buy” rating for the company in a research note on Tuesday, February 8th. Redburn Partners upgraded shares of Spotify Technology from a “sell” rating to a “neutral” rating in a report on Monday, April 25th. Credit Suisse Group lowered their price target on shares of Spotify Technology from $270.00 to $238.00 and set a “neutral” rating for the company in a report on Thursday, February 3rd. The Goldman Sachs Group decreased their price objective on shares of Spotify Technology from $181.00 to $150.00 in a report on Wednesday, April 27th. Finally, KeyCorp decreased their price objective on shares of Spotify Technology from $260.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, April 14th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $214.31.

NYSE SPOT opened at $101.65 on Monday. The company’s 50 day moving average is $137.13 and its 200-day moving average is $197.06. Spotify Technology has a 12-month low of $95.22 and a 12-month high of $305.60. The firm has a market cap of $19.34 billion, a P/E ratio of -143.17 and a beta of 1.67.

Spotify Technology (NYSE:SPOTGet Rating) last announced its quarterly earnings data on Wednesday, April 27th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of ($0.19) by $0.40. The business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.61 billion. Spotify Technology had a net margin of 0.68% and a return on equity of 2.93%. The company’s revenue for the quarter was up 23.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.30) earnings per share.

A number of hedge funds have recently bought and sold shares of SPOT. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Spotify Technology in the first quarter valued at approximately $321,888,000. Norges Bank purchased a new stake in shares of Spotify Technology during the fourth quarter worth $235,825,000. Liontrust Investment Partners LLP purchased a new stake in shares of Spotify Technology during the third quarter worth $223,492,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Spotify Technology during the fourth quarter worth $169,101,000. Finally, Jennison Associates LLC increased its holdings in Spotify Technology by 34.7% in the fourth quarter. Jennison Associates LLC now owns 2,580,094 shares of the company’s stock valued at $603,819,000 after buying an additional 665,199 shares during the last quarter. Institutional investors own 56.36% of the company’s stock.

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.

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Earnings History and Estimates for Spotify Technology (NYSE:SPOT)

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