Spotify Technology SA is expected to earn Q3 2022 earnings per share ($0.74) (NYSE:SPOT)

Spotify Technology SA (NYSE: SPOT – Get Rating) — Analysts at KeyCorp dropped their Q3 2022 EPS estimates for Spotify Technology in a research report released Wednesday, July 27 to customers and investors. KeyCorp analyst J. Patterson now forecasts that the company will post earnings per share ($0.74) for the quarter, which is lower than his prior estimate ($0.51). KeyCorp has a “Maintenance” rating on the stock. The consensus estimate for Spotify Technology’s current full-year earnings is ($0.78) per share. KeyCorp also released estimates for Spotify Technology’s Q4 2022 earnings ($0.91) EPS, FY2022 earnings ($1.62) EPS and FY2023 earnings ($1.12) EPS.

Spotify Technology (NYSE: SPOT – Get Rating) last announced its quarterly earnings results on Wednesday, July 27. The company reported earnings per share ($0.85) for the quarter, missing from analysts’ consensus estimates ($0.68) ($0.17). The firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.82 billion. Spotify Technology had a return on equity of 3.02% and a net margin of 0.68%. The company’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same period last year, the business earned earnings per share ($0.23).

advertisement daily investment

The Incredible Dividend Map… Where Stocks Give a 26% Yearly Return!

Which is the highest yielding stock you have ever owned? The dividends of these stocks have grown so fast over the years that they are now paying us an average of 26%! When you start paying 26% on your money, your financial problems are largely gone.

Read |  Another big name signing for using Propic AI technology

Several other brokerages have also weighed in on the spot recently. Rosenblatt Securities raised its price target on shares of Spotify Technology from $101.00 to $118.00 and gave the stock a “neutral” rating in a research report Thursday. Morgan Stanley lowered its price target on shares of Spotify Technology from $170.00 to $140.00 and set an “overweight” rating on the stock in a research report on Monday, July 25. UBS Group lowered its price target on shares of Spotify Technology from $185.00 to $142.00 and set a “neutral” rating on the stock in a research report Thursday. Wells Fargo & Co. upgraded Spotify Technology shares from an “underweight” rating to an “equal weight” rating and raised its price objective for the company from $101.00 to $124.00 in a research report on Wednesday, June 15. Ultimately, Pivotal Research cut shares of Spotify Technology from a “Buy” rating to a “Hold” rating and lowered their price objective for the company from $235.00 to $110.00 in a research report on Thursday, April 28. One equity research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Spotify Technology currently has a consensus rating of “hold” and an average target price of $183.65.

Spotify Technology Stock Down 1.4%

Shares of NYSE Spot opened Monday at $113.02. The company’s fifty-day moving average is $105.68 and its 200-day moving average is $130.83. The stock has a market cap of $21.50 billion, a price-to-earnings ratio of -159.18 and a beta of 1.79. Spotify Technology has a twelve-month low of $89.03 and a twelve-month high of $305.60.

Read |  TikTok Music App ready to challenge Spotify and Apple: Know how?

Institutional inflow and outflow

Several institutional investors have recently changed their holdings of the company. Fifth Third Bancorp increased its stake in Spotify Technology shares by 55.0% during the fourth quarter. After purchasing an additional 55 shares during the last quarter, Fifth Third Bancorp now owns 155 shares of the company’s stock worth $36,000. Commerce Bank increased its stake in Spotify Technology by 4.0% in the fourth quarter. After purchasing an additional 69 shares during the previous quarter, Commerce Bank now holds 1,798 shares of the company’s stock, valued at $421,000. Baldwin Brothers LLC MA increased its stake in Spotify Technology by 41.5% in the first quarter. After purchasing an additional 83 shares during the previous quarter, Baldwin Brothers LLC MA now owns 283 shares of the company’s stock worth $43,000. Beacon Investment Advisory Services Inc. increased its stake in Spotify Technology by 4.4% in the fourth quarter. After purchasing an additional 86 shares during the previous quarter, Beacon Investment Advisory Services Inc. holds 2,037 shares of the company’s stock, valued at $477,000. Finally, Pacer Advisors Inc. increased its stake in Spotify Technology by 9.5% in the fourth quarter. After purchasing an additional 92 shares during the previous quarter, Pacer Advisors Inc. now owns 1,063 shares of the company’s stock, valued at $249,000. 56.36% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Company Profile

(get rating)

Spotify Technology SA, along with its subsidiaries, provides audio streaming services around the world. It operates through premium and ad supported segments. The premium segment offers its customers unlimited online and offline streaming access to a catalog of music and podcasts without commercial breaks.

Read |  Mullen launches 100 Technology Drive in Irvine, Calif.

read more

Earnings history and projections for Spotify Technology (NYSE:SPOT)

This instant news alert was generated by narrative science technology and financial data from MarketBeat to provide readers with the fastest and most accurate reporting. This story was reviewed by Marketbeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should You Invest $1,000 in Spotify Technology Now?

Before you consider Spotify Technology, you might want to hear this.

MarketBeat tracks Wall Street’s top-rated and best-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified five stocks that top analysts are quietly whispering to their clients to buy before the broader market catches on… and Spotify Technology wasn’t on the list.

While Spotify Technology currently has a “hold” rating among analysts, the top-rated analysts believe these five stocks are the better buy.

View 5 Stocks Here

Source link