Spotify (SPOT) PT Reduced to $358 at Jefferies on Light MAUs

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Go back to Spotify (SPOT) PT Reduced to $358 at Jefferies on Light MAUs

Spotify (SPOT) Gets Two Upgrades as Yesterday's Selloff Yielded Attractive Opportunity

July 29, 2021 10:24 AM EDT

Spotify (NYSE: SPOT) received two stock upgrades today to see its shares trade nearly 1% higher.

Yesterday, the company reported that podcast listening surged 30% among those users that already listen to podcasts. As a result, podcast ad revenue soared by 627%.

The continued outperformance is currently limited only by the availability of our inventory, which is something were actively solving for, said CEO Daniel Ek.

The days of our ad business accounting for less than 10% of our total revenue are behind us, and going forward, I expect ads to be a... More