FY2027 EPS Estimates for SPOT Boosted by Erste Group Bank

Spotify Technology (NYSE:SPOT) – Equities research analysts at Erste Group Bank lifted their FY2027 EPS estimates for Spotify Technology in a report released on Thursday, April 2nd. Erste Group Bank analyst S. Lingnau now anticipates that the company will earn $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 equities analysts have also recently issued reports on the stock. Wells Fargo & Company cut their price objective on shares of Spotify Technology from $750.00 to $710.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 13th. Guggenheim cut their price objective on shares of Spotify Technology from $720.00 to $600.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. Moffett Nathanson assumed coverage on shares of Spotify Technology in a research report on Tuesday, January 27th. They set a “neutral” rating and a $487.00 price objective on the stock. Pivotal Research cut shares of Spotify Technology from a “buy” rating to a “hold” rating and cut their price objective for the stock from $875.00 to $420.00 in a research report on Wednesday, February 11th. Finally, Sanford C. Bernstein cut their target price on Spotify Technology from $830.00 to $650.00 and set an “outperform” rating on the stock in a report on Wednesday, January 14th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Spotify Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $699.00.

Spotify Technology Stock Performance

Spotify Technology stock opened at $482.21 on Wednesday. The stock has a market capitalization of $99.28 billion, a price-to-earnings ratio of 50.02, a PEG 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 stock’s 50 day moving average price is $488.66 and its two-hundred day moving average price is $568.87.

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

Insider Activity

In other Spotify Technology news, CEO Alex Norstrom sold 5,436 shares of the firm’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $479.51, for a total transaction of $2,606,616.36. Following the transaction, the chief executive officer directly owned 69,989 shares in the company, valued at approximately $33,560,425.39. This trade represents a 7.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gustav Soderstrom sold 20,833 shares of the firm’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $473.52, for a total value of $9,864,842.16. Following the transaction, the chief executive officer owned 20,609 shares in the company, valued at approximately $9,758,773.68. This trade represents a 50.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Spotify Technology

Several hedge funds have recently modified their holdings of SPOT. KERR FINANCIAL PLANNING Corp bought a new position in shares of Spotify Technology during the 3rd quarter worth approximately $26,000. Heartwood Wealth Advisors LLC bought a new stake in shares of Spotify Technology during the 3rd quarter worth $27,000. Greykasell Wealth Strategies Inc. raised its stake in shares of Spotify Technology by 3,800.0% during 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 period. Total Investment Management Inc. bought a new stake in shares of Spotify Technology during the 2nd quarter worth $29,000. Finally, Westfuller Advisors LLC bought a new stake in shares of Spotify Technology during the 3rd quarter worth $29,000. Institutional investors 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.