On Nov 13, major Wall Street analysts update their ratings for $Spotify Technology (SPOT.US)$, with price targets ranging from $460 to $565.
Morgan Stanley analyst Benjamin Swinburne maintains with a buy rating, and adjusts the target price from $430 to $460.
J.P. Morgan analyst Doug Anmuth maintains with a buy rating, and adjusts the target price from $425 to $530.
Barclays analyst Kannan Venkateshwar maintains with a buy rating, and adjusts the target price from $385 to $475.
Wells Fargo analyst Steven Cahall maintains with a buy rating, and adjusts the target price from $470 to $520.
KeyBanc analyst Justin Patterson maintains with a buy rating.
Furthermore, according to the comprehensive report, the opinions of $Spotify Technology (SPOT.US)$'s main analysts recently are as follows:
Spotify's Q3 outcomes and Q4 projections maintained the year's favorable tendencies, exhibiting stronger-than-anticipated growth in average revenue per user, gross margins, and EBIT/FCF. Following several quarters of lackluster monthly active user net additions, there was a notable uptick in growth during Q3, and the projections for Q4 surpassed expectations. It is projected that Spotify will surpass 700 million monthly active users by 2025.
The firm is incrementally positive on Spotify following the Q3 report, with expectations that its inclusion in the MSCI World Index on November 25 will provide support to the shares. Spotify continues to be regarded as a 'Best Idea'.
Spotify's trajectory for margin expansion is expected to continue leveraging several drivers through to 2025.
The firm sees Spotify's Q3 outcomes as confirmation that product innovation is propelling revenue growth, with unit economics on the upswing, and indications of positive changes in margins and free cash flow. Notably, the emphasis by management on operational discipline is expected to guide Spotify towards approximately 20% revenue growth sustained over time and continuous enhancement in margins.
Here are the latest investment ratings and price targets for $Spotify Technology (SPOT.US)$ from 6 analysts:
Note:
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