FY2027 EPS Estimates for SPOT Reduced by Erste Group Bank

Spotify Technology (NYSE:SPOT) – Investment analysts at Erste Group Bank lowered their FY2027 earnings per share (EPS) estimates for shares of Spotify Technology in a research report issued to clients and investors on Wednesday, March 4th. Erste Group Bank analyst S. Lingnau now anticipates that the company will post earnings per share of $18.38 for the year, down from their previous estimate of $18.76. Erste Group Bank currently has a “Hold” rating on the stock. The consensus estimate for Spotify Technology’s current full-year earnings is $10.30 per share.

A number of other equities analysts have also commented on the stock. KeyCorp cut their price objective on shares of Spotify Technology from $830.00 to $720.00 and set an “overweight” rating on the stock in a report on Monday, February 9th. Weiss Ratings lowered Spotify Technology from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, February 26th. UBS Group cut their price target on Spotify Technology from $850.00 to $800.00 and set a “buy” rating on the stock in a research note on Friday, January 9th. Citizens Jmp began coverage on Spotify Technology in a research note on Wednesday, December 17th. They set a “market outperform” rating and a $800.00 price objective for the company. Finally, Cantor Fitzgerald dropped their price objective on Spotify Technology from $615.00 to $525.00 and set a “neutral” rating on the stock in a report on Wednesday, February 11th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $698.91.

Spotify Technology Trading Up 2.6%

Shares of SPOT stock opened at $566.73 on Monday. The firm has a fifty day simple moving average of $507.95 and a 200-day simple moving average of $600.68. The company has a market capitalization of $116.68 billion, a PE ratio of 58.79, a price-to-earnings-growth ratio of 1.23 and a beta of 1.66. Spotify Technology has a twelve month low of $405.00 and a twelve month high of $785.00.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings results on Tuesday, February 10th. The company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $3.16 by $2.00. The firm had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.14 billion. Spotify Technology had a return on equity of 31.35% and a net margin of 13.16%.Spotify Technology’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.88 EPS.

Hedge Funds Weigh In On Spotify Technology

Hedge funds have recently added to or reduced their stakes in the business. KERR FINANCIAL PLANNING Corp acquired a new position in shares of Spotify Technology in the 3rd quarter valued at about $26,000. Knuff & Co LLC bought a new position in shares of Spotify Technology during the second quarter valued at approximately $27,000. Heartwood Wealth Advisors LLC acquired a new stake in shares of Spotify Technology during the 3rd quarter worth approximately $27,000. Greykasell Wealth Strategies Inc. lifted its holdings in shares of Spotify Technology by 3,800.0% in the 3rd quarter. Greykasell Wealth Strategies Inc. now owns 39 shares of the company’s stock worth $27,000 after purchasing an additional 38 shares during the last quarter. Finally, Total Investment Management Inc. acquired a new position in Spotify Technology during the 2nd quarter valued at approximately $29,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Company Profile

Spotify Technology is a digital audio streaming company best known for its on-demand music service and a growing portfolio of spoken-word content. Founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon and launched commercially in 2008, the company offers a cross-platform app that enables users to discover, stream and organize music, podcasts and other audio. Its primary consumer products include a free, ad-supported tier and a paid Spotify Premium subscription that provides ad-free listening, offline playback and higher-quality audio streams.