Research Analysts Set Expectations for SPOT FY2027 Earnings

Spotify Technology (NYSE:SPOT) – Erste Group Bank boosted their FY2027 earnings per share estimates for shares of Spotify Technology in a note issued to investors on Thursday, April 2nd. Erste Group Bank analyst S. Lingnau now anticipates that the company will post earnings of $18.46 per share for the year, up from their prior estimate of $18.40. The consensus estimate for Spotify Technology’s current full-year earnings is $10.30 per share.

A number of other brokerages have also recently issued reports on SPOT. Weiss Ratings cut shares of Spotify Technology from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, February 26th. KeyCorp lowered their target price 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. The Goldman Sachs Group raised shares of Spotify Technology from a “neutral” rating to a “buy” rating and lowered their target price for the company from $735.00 to $700.00 in a report on Friday, January 23rd. Citizens Jmp assumed coverage on Spotify Technology in a research report on Wednesday, December 17th. They set a “market outperform” rating and a $800.00 price target on the stock. Finally, Pivotal Research cut Spotify Technology from a “buy” rating to a “hold” rating and decreased their price target for the company from $875.00 to $420.00 in a research report on Wednesday, February 11th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $699.00.

Spotify Technology Stock Down 0.5%

NYSE SPOT opened at $482.21 on Wednesday. The company has a market cap of $99.28 billion, a PE ratio of 50.02, a price-to-earnings-growth ratio of 1.07 and a beta of 1.70. Spotify Technology has a 52 week low of $405.00 and a 52 week high of $785.00. The firm’s 50-day simple moving average is $488.66 and its two-hundred day simple moving average is $568.87.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings data on Wednesday, February 11th. The company reported $5.16 EPS for the quarter, beating the consensus estimate of $3.16 by $2.00. The business had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.14 billion. Spotify Technology had a net margin of 13.16% and a return on equity of 31.35%. The company’s revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.88 earnings per share.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Total Investment Management Inc. bought a new position in shares of Spotify Technology in the second quarter worth approximately $29,000. Heartwood Wealth Advisors LLC bought a new position in shares of Spotify Technology in the third quarter worth approximately $27,000. Greykasell Wealth Strategies Inc. increased its position in shares of Spotify Technology by 3,800.0% in the third 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. KERR FINANCIAL PLANNING Corp bought a new position in shares of Spotify Technology in the third quarter worth approximately $26,000. Finally, Westfuller Advisors LLC bought a new position in shares of Spotify Technology in the third quarter worth approximately $29,000. 84.09% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Spotify Technology

In other news, CEO Alex Norstrom sold 5,436 shares of the company’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $479.51, for a total value of $2,606,616.36. Following the transaction, the chief executive officer owned 69,989 shares of the company’s stock, valued at approximately $33,560,425.39. This represents a 7.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Gustav Soderstrom sold 20,833 shares of the company’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $473.52, for a total transaction of $9,864,842.16. Following the completion of the transaction, the chief executive officer directly owned 20,609 shares in the company, valued at approximately $9,758,773.68. The trade was a 50.27% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.40% 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.