Spotify Is Still One Of Top 4 Best Ideas For 2025: Analyst

Wall Street analysts rerated Spotify Technology S.A. (NYSE:SPOT) after it reported upbeat quarterly print Tuesday amid an exciting earnings season.

Spotify reported quarterly earnings of $1.88 per share, below the analyst estimate of $2.06. The company reported quarterly sales of $4.53 billion (4.24 billion euros), up by 16%, topping the consensus estimate of $4.15 billion.

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The company reported monthly average user (MAU) net additions of 35 million quarter-over-quarter, surpassing guidance by ten million, and subscriber net additions of 11 million, also ahead by three million.

Premium subscribers grew 11% to 263 million, reflecting year-over-year and quarter-over-quarter growth across all regions, beating expectations by 3 million.

Goldman Sachs analyst Eric Sheridan reiterated a Buy on Spotify with a price target of $550.

JP Morgan analyst Doug Anmuth maintained an Overweight on Spotify.

Goldman Sachs: Sheridan would expect Spotify to have a positive market reaction to its fiscal fourth-quarter earnings report with a mixture of strong foreign-exchange neutral revenue growth (above ...

Full story available on Benzinga.com