Jefferies Financial Group Weighs in on Spotify Technology S.A.’s Q2 2022 Earnings (NYSE:SPOT)

Spotify Technology S.A. (NYSE:SPOTGet Rating) – Analysts at Jefferies Financial Group raised their Q2 2022 earnings per share (EPS) estimates for Spotify Technology in a research note issued to investors on Wednesday, April 27th. Jefferies Financial Group analyst A. Uerkwitz now forecasts that the company will post earnings per share of ($0.06) for the quarter, up from their prior estimate of ($0.09). Jefferies Financial Group currently has a “Buy” rating and a $275.00 target price on the stock. Jefferies Financial Group also issued estimates for Spotify Technology’s Q3 2022 earnings at ($0.23) EPS, Q4 2022 earnings at ($0.31) EPS, FY2022 earnings at ($0.38) EPS, FY2023 earnings at $0.58 EPS, FY2024 earnings at $1.72 EPS, FY2025 earnings at $3.53 EPS and FY2026 earnings at $5.81 EPS.

Several other equities research analysts have also recently issued reports on SPOT. Wells Fargo & Company reduced their target price on Spotify Technology from $153.00 to $101.00 in a report on Thursday. The Goldman Sachs Group reduced their price objective on Spotify Technology from $181.00 to $150.00 in a research note on Wednesday, April 27th. Zacks Investment Research cut Spotify Technology from a “hold” rating to a “sell” rating in a research note on Wednesday, April 6th. KeyCorp dropped their target price on Spotify Technology from $260.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, April 14th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Spotify Technology from $140.00 to $115.00 in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $214.31.

NYSE:SPOT opened at $101.65 on Monday. The business’s 50-day simple moving average is $137.13 and its two-hundred day simple moving average is $197.06. The stock has a market cap of $19.34 billion, a PE ratio of -143.17 and a beta of 1.67. Spotify Technology has a 52 week low of $95.22 and a 52 week high of $305.60.

Spotify Technology (NYSE:SPOTGet Rating) last released its earnings results on Wednesday, April 27th. The company reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.19) by $0.40. The company had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.61 billion. Spotify Technology had a return on equity of 2.93% and a net margin of 0.68%. Spotify Technology’s quarterly revenue was up 23.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.30) earnings per share.

Large investors have recently bought and sold shares of the company. UMB Bank N A MO acquired a new position in Spotify Technology during the fourth quarter worth approximately $26,000. Lazard Asset Management LLC acquired a new stake in shares of Spotify Technology in the fourth quarter worth $26,000. MUFG Americas Holdings Corp acquired a new stake in shares of Spotify Technology in the fourth quarter worth $29,000. IFP Advisors Inc increased its position in shares of Spotify Technology by 71.6% in the fourth quarter. IFP Advisors Inc now owns 151 shares of the company’s stock worth $35,000 after acquiring an additional 63 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Spotify Technology by 55.0% in the fourth quarter. Fifth Third Bancorp now owns 155 shares of the company’s stock worth $36,000 after acquiring an additional 55 shares in the last quarter. 56.36% of the stock is owned by institutional investors and hedge funds.

About Spotify Technology (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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