FY2027 Earnings Estimate for SPOT Issued By Erste Group Bank

Spotify Technology (NYSE:SPOT) – Investment analysts at Erste Group Bank boosted their FY2027 EPS estimates for shares of Spotify Technology in a research note issued on Tuesday, September 8th. Erste Group Bank analyst S. Lingnau now forecasts that the company will earn $17.74 per share for the year, up from their prior forecast of $17.66. The consensus estimate for Spotify Technology’s current full-year earnings is $14.29 per share.

A number of other brokerages have also commented on SPOT. Barclays upped their target price on Spotify Technology from $500.00 to $565.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. Citizens Jmp increased their price objective on shares of Spotify Technology from $600.00 to $625.00 and gave the company a “market outperform” rating in a research note on Friday, May 22nd. Rosenblatt Securities decreased their target price on shares of Spotify Technology from $531.00 to $527.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 5th. Cantor Fitzgerald increased their price target on shares of Spotify Technology from $510.00 to $530.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Finally, Benchmark cut their price target on shares of Spotify Technology from $695.00 to $650.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $594.50.

Spotify Technology Stock Up 0.6%

Spotify Technology stock opened at $559.59 on Monday. The business has a 50 day moving average price of $511.61 and a two-hundred day moving average price of $495.35. Spotify Technology has a 12 month low of $405.00 and a 12 month high of $745.00. The stock has a market cap of $115.21 billion, a price-to-earnings ratio of 34.84, a price-to-earnings-growth ratio of 1.64 and a beta of 1.59.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $3.03 EPS for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.13). Spotify Technology had a net margin of 18.44% and a return on equity of 41.39%. The company had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.47 billion. During the same period in the prior year, the company posted ($0.42) EPS. The firm’s quarterly revenue was up 13.9% on a year-over-year basis.

Institutional Trading of Spotify Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Capital World Investors raised its stake in shares of Spotify Technology by 4.9% in the fourth quarter. Capital World Investors now owns 2,863,821 shares of the company’s stock worth $1,663,024,000 after acquiring an additional 133,108 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of Spotify Technology by 2.4% in the fourth quarter. Fisher Asset Management LLC now owns 2,665,512 shares of the company’s stock valued at $1,547,890,000 after purchasing an additional 62,887 shares in the last quarter. Geode Capital Management LLC raised its position in Spotify Technology by 5.7% in the 4th quarter. Geode Capital Management LLC now owns 1,720,259 shares of the company’s stock worth $991,223,000 after purchasing an additional 93,274 shares during the last quarter. Deutsche Bank AG lifted its holdings in Spotify Technology by 15.7% during the 4th quarter. Deutsche Bank AG now owns 1,485,921 shares of the company’s stock worth $862,889,000 after buying an additional 201,080 shares in the last quarter. Finally, Forsta AP Fonden lifted its holdings in Spotify Technology by 1.2% during the 4th quarter. Forsta AP Fonden now owns 1,474,412 shares of the company’s stock worth $856,206,000 after buying an additional 18,160 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Spotify Technology

In related news, CEO Gustav Söderström sold 20,833 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $507.24, for a total transaction of $10,567,330.92. Following the sale, the chief executive officer directly owned 20,142 shares in the company, valued at $10,216,828.08. This represents a 50.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Alex Norström sold 5,436 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $502.10, for a total value of $2,729,415.60. Following the sale, the chief executive officer directly owned 66,773 shares of the company’s stock, valued at $33,526,723.30. This represents a 7.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 52,538 shares of company stock valued at $25,878,250. Company insiders own 0.40% of the company’s stock.

About Spotify Technology

Spotify Technology SA is a Luxembourg-based audio streaming company that operates the Spotify platform. The service gives users access to a broad catalog of music, podcasts and audiobooks, with features for searching, discovering, creating and sharing audio content across connected devices.

Spotify offers an ad-supported service at no subscription cost and paid Premium plans that provide additional features, including ad-free listening and offline playback. The company generates revenue primarily through subscriptions and advertising, while working with music labels, publishers, podcast creators and other rights holders to distribute content.

Founded in Stockholm in 2006 by Daniel Ek and Martin Lorentzon, Spotify launched its streaming service in 2008.