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Spotify Technology (NYSE:SPOT – Get Rating) will release quarterly earnings results before the market opens on Tuesday, April 25. Analysts expect Spotify Technology to book his earnings per share ($0.97) in the quarter. Spotify Technology has set Q1 2023 guidance on EPS. Anyone interested in listening to the company’s earnings conference call can do so using this link.
Spotify Technology (NYSE:SPOT – Get Rating) last announced quarterly earnings data on Tuesday, January 31. The company reported quarterly EPS ($1.43), missing analyst consensus estimates ($1.28) by ($0.15). Spotify Technology’s return on equity was 17.78% and net profit margin was 3.48%. The company posted revenue of $3.23 billion for the quarter, compared with analyst estimates of $3.26 billion. On average, analysts expect Spotify Technology to post -$3 EPS this fiscal year and -$1 EPS next fiscal year.
Spotify technology deals down 0.7%
SPOT shares opened at $133.78 on Tuesday. Spotify Technology’s all-year low is $69.29 and all-year high is $138.74. The stock has a market cap of $25.86 billion, a P/E of -43.29 and a beta of 1.76. The stock has a 50-day moving average price of $126.45 and a 200-day moving average price of $99.55.
Spotify Technology Institutional Deal
Institutional investors and hedge funds have recently changed their stake in the business. Massachusetts Financial Services Co. MA raised his Spotify Technology stock position by 15.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,377 shares worth $317,000 after acquiring an additional 455 shares last quarter. Maverick Capital Ltd. acquired new shares in Spotify Technology worth approximately $313,000 in the fourth quarter. WealthPLAN Partners LLC purchased new shares in Spotify Technology worth $297,000 in the fourth quarter. Blair William & Co. IL purchased new shares in Spotify Technology worth $251,000 in the first quarter. Finally, Gabelli Funds LLC purchased new shares in Spotify Technology worth $242,000 in the first quarter. An institutional investor owns his 52.80% of the company’s shares.
Wall Street Analyst Predicts Growth
SPOT has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft has increased its price target for Spotify Technology from $100.00 to $105.00 in a research report on Monday, January 30th. JPMorgan Chase & Co. raised its price target for Spotify technology from $120.00 to $135.00 in its Wednesday, Feb. 1 research report, giving the stock an “overweight” rating. Raymond James raised his price target for Spotify Technology from his $110.00 to his $130.00, giving it an “outperform” rating in a report on Wednesday, Feb. 1. Atlantic Securities upgraded Spotify Technology from a “neutral” rating to an “overweight” rating and set a price target of $160.00 in its research notes on Monday, February 6. Finally, UBS Group lowered its price target for Spotify technology from $142.00 to $100.00 in its research notes on Thursday, January 5. Seven investment analysts have assigned a Hold rating to the stock and 15 have assigned a Buy rating to the stock. Based on MarketBeat data, the stock currently has an average rating of ‘moderate buy’ with a consensus price target of $133.92.
Spotify Technology Company Profile
(get rating)
Spotify Technology SA is a digital music service that gives music fans instant access to the world of music. It operates through its Premium and Ad-supported segments. The premium segment offers subscribers unlimited online and offline high-quality streaming access to music and podcasts on computers, tablets and mobile devices.
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