FY2027 EPS Estimates for SPOT Reduced by Erste Group Bank

by · The Cerbat Gem

Spotify Technology (NYSE:SPOT – Free Report) – Erste Group Bank lowered their FY2027 earnings per share (EPS) estimates for shares of Spotify Technology in a research report issued on Friday, September 18th. Erste Group Bank analyst S. Lingnau now anticipates that the company will post earnings per share of $17.52 for the year, down from their previous forecast of $17.74. The consensus estimate for Spotify Technology’s current full-year earnings is $14.19 per share.

SPOT has been the subject of a number of other reports. Argus reissued a “buy” rating and set a $600.00 price objective on shares of Spotify Technology in a research note on Thursday, August 13th. Wells Fargo & Company dropped their price target on Spotify Technology from $600.00 to $570.00 and set an “overweight” rating for the company in a research report on Thursday, July 9th. Guggenheim reissued a “buy” rating and issued a $565.00 price target on shares of Spotify Technology in a report on Wednesday, August 5th. Benchmark decreased their price objective on Spotify Technology from $695.00 to $650.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. Finally, Rosenblatt Securities lowered their target price on shares of Spotify Technology from $531.00 to $527.00 and set a “neutral” rating for the company in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $594.50.

Read Our Latest Analysis on Spotify Technology

Spotify Technology Trading Up 1.7%

Shares of SPOT opened at $517.93 on Tuesday. Spotify Technology has a 12-month low of $405.00 and a 12-month high of $740.20. The stock has a market cap of $106.63 billion, a P/E ratio of 32.25, a PEG ratio of 1.51 and a beta of 1.59. The company has a 50-day moving average of $515.04 and a two-hundred day moving average of $495.82.

Spotify Technology (NYSE:SPOT – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $3.03 earnings per share 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 firm had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $5.47 billion. During the same quarter in the prior year, the business earned ($0.42) EPS. The company’s quarterly revenue was up 13.9% compared to the same quarter last year.

Insider Transactions at Spotify Technology

In related news, CEO Alex Norström sold 5,436 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $502.10, for a total transaction of $2,729,415.60. Following the sale, the chief executive officer directly owned 66,773 shares in the company, valued at approximately $33,526,723.30. This trade represents a 7.53% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Gustav Söderström sold 20,913 shares of the company’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $544.19, for a total transaction of $11,380,645.47. Following the completion of the transaction, the chief executive officer directly owned 20,025 shares of the company’s stock, valued at approximately $10,897,404.75. The trade was a 51.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 73,451 shares of company stock valued at $37,258,896. Insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Spotify Technology

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

Spotify Technology Company Profile

(Get Free Report)

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.

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