Equities Analysts Issue Forecasts for Spotify’s FY2018 Earnings (SPOT)

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.

Several other equities analysts have also commented on the company. Cfra reissued a “buy” rating and set a $245.00 price target on shares of Spotify in a research report on Wednesday, September 19th. Guggenheim boosted their price target on Spotify from $175.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, September 26th. UBS Group raised Spotify from a “neutral” rating to a “buy” rating in a research report on Monday, October 15th. Redburn Partners raised Spotify to a “buy” rating in a research report on Monday, October 15th. Finally, Monness Crespi & Hardt initiated coverage on Spotify in a research report on Monday, August 27th. They set a “buy” rating and a $265.00 price target on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $198.96.

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.

About Spotify

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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