FY2027 Earnings Estimate for SPOT Issued By Erste Group Bank

Spotify Technology (NYSE:SPOT) – Equities research analysts at Erste Group Bank lowered their FY2027 earnings per share estimates for Spotify Technology in a report released on Wednesday, March 4th. Erste Group Bank analyst S. Lingnau now anticipates that the company will earn $18.38 per share for the year, down from their prior estimate of $18.76. Erste Group Bank 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 research analysts have also recently issued reports on SPOT. Benchmark decreased their price objective on shares of Spotify Technology from $860.00 to $760.00 and set a “buy” rating for the company in a report on Friday, January 16th. Arete Research upgraded Spotify Technology from a “neutral” rating to a “buy” rating and set a $586.00 target price on the stock in a report on Thursday, February 26th. KeyCorp reduced their price target on Spotify Technology from $830.00 to $720.00 and set an “overweight” rating for the company in a research report on Monday, February 9th. Wells Fargo & Company decreased their price target on Spotify Technology from $750.00 to $710.00 and set an “overweight” rating for the company in a research note on Tuesday, January 13th. Finally, Guggenheim lowered their price objective on Spotify Technology from $720.00 to $600.00 and set a “buy” rating on the stock in a report on Tuesday, February 24th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $698.91.

Spotify Technology Trading Down 3.5%

Spotify Technology stock opened at $545.47 on Monday. Spotify Technology has a 1-year low of $405.00 and a 1-year high of $785.00. The firm’s fifty day simple moving average is $507.23 and its 200-day simple moving average is $599.66. The company has a market capitalization of $112.30 billion, a P/E ratio of 56.58, a P/E/G ratio of 1.23 and a beta of 1.66.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank bought a new position in shares of Spotify Technology in the fourth quarter worth about $711,460,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Spotify Technology by 1,382.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,247,182 shares of the company’s stock valued at $724,251,000 after purchasing an additional 1,163,045 shares during the period. Capital World Investors grew its holdings in Spotify Technology by 40.7% in the 3rd quarter. Capital World Investors now owns 2,730,713 shares of the company’s stock valued at $1,906,260,000 after buying an additional 789,755 shares during the last quarter. Capital Research Global Investors acquired a new stake in Spotify Technology in the 3rd quarter valued at approximately $512,190,000. Finally, Coatue Management LLC increased its position in Spotify Technology by 35.9% in the 4th quarter. Coatue Management LLC now owns 2,450,881 shares of the company’s stock worth $1,423,251,000 after buying an additional 647,708 shares during the period. Institutional investors and hedge funds own 84.09% of the company’s stock.

About Spotify Technology

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.