Spotify Technology S.A. Releases Financial Results for First Quarter 2024

Spotify (SPOT) PT Raised to $400 at Wells Fargo

Wells Fargo analyst Steven Cahall raised the price target on Spotify (NYSE: SPOT) to $400.00 (from $310.00) while maintaining a Overweight rating.

The analyst comments "SPOT beat on Q1 gross and op margin, and guided Q2 margins ahead of Street. The company continues... More

Spotify (SPOT) PT Raised to $370 at BofA Securities

BofA Securities analyst Jessica Reif Ehrlich raised the price target on Spotify (NYSE: SPOT) to $370.00 (from $315.00) while maintaining a Buy rating.

The analyst comments "Spotify reported a solid 1Q as revenue, gross margins, operating income and FCF were above our forecast while... More

Spotify (SPOT) PT Raised to $345 at Macquarie

Macquarie analyst Tim Nollen raised the price target on Spotify (NYSE: SPOT) to $345.00 (from $330.00) while maintaining a Outperform rating.

The analyst comments "Spotify's Q1 results included MAU of 615m, 3m below guidance but still up 19% YoY; premium subs of 239m in line with expectations and up 14%; revenue of 3.6bn in line; and, most... More

Spotify (SPOT) PT Raised to $396 at Rosenblatt

Rosenblatt analyst Barton Crockett raised the price target on Spotify (NYSE: SPOT) to $396.00 (from $315.00) while maintaining a Buy rating.

The analyst comments "Margin-friendly 1Q24 -- Spotify's sales grew 21% constant currency to 3,636 million, a scant 11 above us, and close to rounded guidance for 3.6 billion. Operating income of 168 million was 12 million below guidance, but included 82... More

Spotify (SPOT) PT Raised to $325 at CFRA

CFRA analyst Kenneth Leon raised the price target on Spotify (NYSE: SPOT) to $325.00 (from $242.00) while maintaining a Hold rating.

The analyst comments "We raise our target by $83 to $325 using a forward P/E of 67.0x our '24 earnings estimate, below the five-year... More

Spotify (SPOT) PT Raised to Street High $400 at Pivotal Research

Pivotal Research analyst Jeffrey Wlodarczak raised the price target on Spotify (NYSE: SPOT) to $400.00 (from $390.00) while maintaining a Buy rating.

The analyst comments "Spotify reported a strong 1Q result highlighted by in-line premium MAUs, modestly lower than forecast ad-supported MAUs (on... More

Spotify (SPOT) jumps 10% as Q1 revenue, gross margins beat Street's estimates

(Updated - April 23, 2024 8:45 AM EDT)

Shares of Spotify (NYSE: SPOT) jumps 10% in premarket trading Tuesday after the audio streaming company posted better-than-anticipated earnings, revenue and gross margin for the fiscal Q1 2024.

The company reported earnings per share of EUR 0.97, beating the consensus estimates of EUR 0.64. Revenue was reported at EUR 3.64 billion for the quarter, slightly above the consensus... More