Zacks: Analysts Anticipate Spotify Technology SA (SPOT) to Announce -$0.56 EPS

Brokerages predict that Spotify Technology SA (NYSE:SPOT) will post earnings of ($0.56) per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Spotify Technology’s earnings, with the highest EPS estimate coming in at ($0.12) and the lowest estimate coming in at ($1.19). Spotify Technology posted earnings per share of ($0.61) during the same quarter last year, which would indicate a positive year-over-year growth rate of 8.2%. The business is expected to issue its next earnings report on Thursday, July 25th.

On average, analysts expect that Spotify Technology will report full-year earnings of ($2.39) per share for the current year, with EPS estimates ranging from ($4.19) to ($0.78). For the next fiscal year, analysts anticipate that the firm will post earnings of ($1.65) per share, with EPS estimates ranging from ($4.12) to ($0.50). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that follow Spotify Technology.

Spotify Technology (NYSE:SPOT) last released its earnings results on Monday, April 29th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by ($0.53). The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.67 billion. Spotify Technology had a positive return on equity of 13.72% and a negative net margin of 1.08%.

SPOT has been the subject of several analyst reports. Pivotal Research restated a “buy” rating and issued a $165.00 target price on shares of Spotify Technology in a report on Monday, April 29th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $170.00 price target on shares of Spotify Technology in a research note on Tuesday, April 30th. Finally, UBS Group raised their price target on shares of Spotify Technology from $180.00 to $182.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th.

Shares of Spotify Technology stock traded down $6.39 during trading on Thursday, hitting $120.70. The stock had a trading volume of 64,093 shares, compared to its average volume of 1,588,885. The firm has a market capitalization of $23.55 billion and a PE ratio of -201.65. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.23. Spotify Technology has a 12 month low of $103.29 and a 12 month high of $198.99.

About Spotify Technology

Spotify Technology SA, together with its subsidiaries, provides music streaming services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers commercial-free music services to subscribers comprising unlimited online and offline high-quality streaming access to its catalog.

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