FY2019 EPS Estimates for Spotify Decreased by Analyst (SPOT)

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.

Several other equities research analysts also recently weighed in on the company. Barclays decreased their price target on Spotify from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, November 2nd. Redburn Partners raised Spotify to a “buy” rating in a report on Monday, October 15th. Guggenheim increased their price target on Spotify from $175.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, September 26th. Cfra reaffirmed a “buy” rating and set a $245.00 price target on shares of Spotify in a report on Wednesday, September 19th. Finally, UBS Group raised Spotify from a “neutral” rating to a “buy” rating in a report on Monday, October 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $192.07.

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.

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Earnings History and Estimates for Spotify (NASDAQ:SPOT)

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