Spotify (NASDAQ:SPOT) – Oppenheimer increased their FY2018 earnings estimates for shares of Spotify in a note issued to investors on Monday, November 5th. Oppenheimer analyst J. Helfstein now forecasts that the company will earn ($4.29) per share for the year, up from their prior forecast of ($6.19). Oppenheimer also issued estimates for Spotify’s Q4 2018 earnings at ($0.92) EPS, FY2019 earnings at ($4.34) EPS, FY2020 earnings at ($3.17) EPS and FY2021 earnings at ($0.92) EPS.
Spotify (NASDAQ:SPOT) last released its quarterly earnings results on Thursday, November 1st. The company reported $0.23 EPS for the quarter, topping the consensus estimate of ($0.51) by $0.74. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.34 billion. Spotify’s revenue was up 31.0% on a year-over-year basis.
Spotify stock opened at $138.06 on Thursday. Spotify has a one year low of $131.01 and a one year high of $198.99.
A number of hedge funds have recently bought and sold shares of SPOT. Baillie Gifford & Co. bought a new stake in shares of Spotify in the 2nd quarter valued at approximately $2,181,995,000. TPG Group Holdings SBS Advisors Inc. bought a new stake in shares of Spotify in the 2nd quarter valued at approximately $693,702,000. Morgan Stanley bought a new stake in shares of Spotify in the 2nd quarter valued at approximately $285,984,000. JPMorgan Chase & Co. increased its holdings in shares of Spotify by 8.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,189,947 shares of the company’s stock valued at $215,178,000 after acquiring an additional 90,326 shares during the last quarter. Finally, Lansdowne Partners UK LLP bought a new stake in shares of Spotify in the 2nd quarter valued at approximately $195,969,000.
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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