Spotify profits up, but lower marketing hits user growth
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April 24, 2024 5:40 AM EDT
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
April 24, 2024 5:36 AM EDT
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
April 23, 2024 4:08 PM EDT
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
April 23, 2024 4:01 PM EDT
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
April 23, 2024 10:45 AM EDT
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
April 23, 2024 9:06 AM EDT
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
