Spotify (NASDAQ:SPOT) – Investment analysts at SunTrust Banks decreased their FY2019 earnings per share estimates for shares of Spotify in a report released on Tuesday, January 8th. SunTrust Banks analyst M. Thornton now forecasts that the company will post earnings of ($1.12) per share for the year, down from their previous estimate of ($0.89). SunTrust Banks also issued estimates for Spotify’s FY2020 earnings at ($0.49) EPS.
Spotify (NASDAQ:SPOT) last posted its quarterly earnings data on Thursday, November 1st. The company reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.51) by $0.74. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. Spotify’s quarterly revenue was up 31.0% compared to the same quarter last year.
SPOT stock opened at $123.93 on Friday. Spotify has a twelve month low of $103.29 and a twelve month high of $198.99.
Hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp purchased a new position in shares of Spotify in the second quarter valued at $6,459,000. AMP Capital Investors Ltd purchased a new position in shares of Spotify in the second quarter valued at $3,391,000. Tower Research Capital LLC TRC acquired a new stake in shares of Spotify during the second quarter valued at $238,000. Marshall Wace North America L.P. boosted its stake in shares of Spotify by 120.5% during the third quarter. Marshall Wace North America L.P. now owns 36,143 shares of the company’s stock valued at $6,536,000 after acquiring an additional 19,749 shares during the last quarter. Finally, Addison Capital Co acquired a new stake in shares of Spotify during the third quarter valued at $364,000.
Spotify Company Profile
Spotify Technology SA is an innovative digital music service offering music fans instant access to a world of music. The company enables on-demand streaming of audio content and aim to combat music piracy by offering a user experience, while monetizing licensed content with both an ad-supported, free-to-the-user model and a premium, paid model.
Featured Article: What is a Futures Contract?
Receive News & Ratings for Spotify Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spotify and related companies with MarketBeat.com's FREE daily email newsletter.