Spotify Technology S.A. (NYSE:SPOT – Get Rating) – Research analysts at KeyCorp issued their Q1 2023 EPS estimates for shares of Spotify Technology in a research note issued to investors on Sunday, January 22nd. KeyCorp analyst J. Patterson anticipates that the company will post earnings per share of ($0.65) for the quarter. KeyCorp has a “Overweight” rating and a $135.00 price objective on the stock. The consensus estimate for Spotify Technology’s current full-year earnings is ($2.64) per share. KeyCorp also issued estimates for Spotify Technology’s Q2 2023 earnings at ($0.49) EPS.
A number of other analysts have also commented on the stock. Citigroup reduced their price target on shares of Spotify Technology from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, October 27th. The Goldman Sachs Group reduced their price target on shares of Spotify Technology from $133.00 to $114.00 and set a “neutral” rating for the company in a research note on Wednesday, October 26th. Rosenblatt Securities dropped their price objective on shares of Spotify Technology from $112.00 to $87.00 and set a “neutral” rating on the stock in a report on Tuesday, November 1st. Jefferies Financial Group downgraded shares of Spotify Technology from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $115.00 to $95.00 in a report on Thursday, January 12th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Spotify Technology from $155.00 to $130.00 and set an “overweight” rating on the stock in a report on Friday, October 21st. Thirteen research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Spotify Technology presently has a consensus rating of “Hold” and a consensus price target of $142.44.
Spotify Technology Stock Down 0.7 %
Spotify Technology (NYSE:SPOT – Get Rating) last announced its quarterly earnings results on Tuesday, October 25th. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.11). Spotify Technology had a negative return on equity of 8.21% and a negative net margin of 1.62%. The company had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.03 billion.
Institutional Investors Weigh In On Spotify Technology
Institutional investors and hedge funds have recently modified their holdings of the stock. First Manhattan Co. increased its position in Spotify Technology by 65.8% in the first quarter. First Manhattan Co. now owns 252 shares of the company’s stock worth $38,000 after purchasing an additional 100 shares during the last quarter. Arlington Partners LLC increased its position in Spotify Technology by 1,394.7% in the second quarter. Arlington Partners LLC now owns 284 shares of the company’s stock worth $27,000 after purchasing an additional 265 shares during the last quarter. CoreCap Advisors LLC bought a new stake in Spotify Technology in the second quarter worth $29,000. Stonebridge Capital Advisors LLC increased its position in Spotify Technology by 1,300.0% in the third quarter. Stonebridge Capital Advisors LLC now owns 350 shares of the company’s stock worth $30,000 after purchasing an additional 325 shares during the last quarter. Finally, Neo Ivy Capital Management increased its position in Spotify Technology by 87.6% in the third quarter. Neo Ivy Capital Management now owns 362 shares of the company’s stock worth $31,000 after purchasing an additional 169 shares during the last quarter. Institutional investors own 52.80% of the company’s stock.
Spotify Technology Company Profile
Spotify Technology SA, together with its subsidiaries, provides audio streaming services worldwide. It operates through Premium and Ad-Supported segments. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.
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