Spotify Technology (SPOT) Projected to Post Earnings on Tuesday

Spotify Technology (NYSE:SPOT - Get Free Report) is projected to post its quarterly earnings results before the market opens on Tuesday, February 4th. Analysts expect Spotify Technology to post earnings of $2.06 per share for the quarter. Spotify Technology has set its Q4 2024 guidance at EPS.Parties interested in registering for the company's conference call can do so using this link.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.30). Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The company had revenue of $3.99 billion during the quarter, compared to analysts' expectations of $4.03 billion. During the same period last year, the business earned $0.36 earnings per share. The company's revenue for the quarter was up 18.8% compared to the same quarter last year. On average, analysts expect Spotify Technology to post $6 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Spotify Technology Stock Performance

Shares of SPOT stock traded up $17.66 during trading hours on Tuesday, reaching $531.64. The company had a trading volume of 2,241,480 shares, compared to its average volume of 1,747,108. The company has a market capitalization of $105.82 billion, a P/E ratio of 144.47 and a beta of 1.62. Spotify Technology has a twelve month low of $213.31 and a twelve month high of $537.00. The stock's fifty day simple moving average is $474.92 and its 200 day simple moving average is $398.39.

Analyst Ratings Changes

SPOT has been the topic of a number of recent research reports. Rosenblatt Securities boosted their target price on shares of Spotify Technology from $399.00 to $438.00 and gave the stock a "buy" rating in a research report on Thursday, October 17th. Pivotal Research boosted their price objective on shares of Spotify Technology from $510.00 to $565.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Canaccord Genuity Group raised their target price on Spotify Technology from $525.00 to $560.00 and gave the company a "buy" rating in a research note on Monday, December 2nd. Macquarie boosted their price target on Spotify Technology from $395.00 to $500.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. Finally, Wells Fargo & Company raised their price objective on Spotify Technology from $470.00 to $520.00 and gave the company an "overweight" rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $446.21.

Spotify Technology Company Profile

Spotify Technology SA, together with its subsidiaries, provides audio streaming subscription services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.