Analysts predict that Spotify Technology SA (NYSE:SPOT) will post sales of $1.83 billion for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Spotify Technology’s earnings. The highest sales estimate is $1.86 billion and the lowest is $1.79 billion. Spotify Technology reported sales of $1.50 billion in the same quarter last year, which would suggest a positive year over year growth rate of 22%. The firm is expected to issue its next earnings report before the market opens on Wednesday, July 31st.

On average, analysts expect that Spotify Technology will report full-year sales of $7.52 billion for the current financial year, with estimates ranging from $7.41 billion to $7.62 billion. For the next year, analysts expect that the firm will report sales of $9.32 billion, with estimates ranging from $8.97 billion to $9.50 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Spotify Technology.

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

Several analysts have recently commented on the stock. Evercore ISI downgraded shares of Spotify Technology from an “in-line” rating to an “underperform” rating in a research report on Monday, June 24th. UBS Group raised their target price on shares of Spotify Technology from $180.00 to $182.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Goldman Sachs Group set a €152.00 ($176.74) target price on shares of Aena SME and gave the company a “sell” rating in a research note on Tuesday, April 30th. Finally, Pivotal Research reaffirmed a “buy” rating and set a $165.00 target price on shares of Spotify Technology in a research note on Monday, April 29th.

Shares of SPOT stock traded up $1.97 on Wednesday, hitting $154.27. 548,253 shares of the stock traded hands, compared to its average volume of 1,649,356. The stock has a market cap of $27.13 billion, a price-to-earnings ratio of -254.72 and a beta of 1.84. Spotify Technology has a 52 week low of $103.29 and a 52 week high of $198.99. The business has a 50 day moving average price of $140.17. 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 Company Profile

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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