Truist’s Matthew Thornton, for his part, maintained a “buy” rating for Spotify stock and set an even $150 target, whereas Goldman’s Eric Sheridan went with a “neutral” rating and the same $150 target.įinally, Citi analyst Jason Bazinet has issued Spotify stock a “buy” rating and a $165 target for reference, Morgan Stanley less than one month ago slashed its own Spotify stock target from $300 to $225. Buying Spotify stock under these circumstances sounds like a downright irresponsible idea, especially when the stock is trading at 160 times free cash flow. From there, you should select the 'Spotify Monthly Listeners' service. Simply hit that icon to expand it into its section. Youll see the Spotify section with its green logo. To be sure, Wells Fargo analysts cited Spotify’s Q2 2022 guidance when maintaining their “underweight” rating and $153 target price for SPOT this target has been updated to $101. Open InstaFollowers through any device or browser you prefer and start browsing through our upper menu items. Bearing in mind the figures, Spotify is banking on boasting 428 million MAUs and 187 million paid users at the end of the current quarter, and the somewhat modest totals may be contributing to the current stock-price woes. Spotify also saw its paid users increase by 15 percent year over year and one percent quarter over quarter, to 182 million – or just beneath the forecasted total. These three million MAUs then signed off before Q1’s conclusion. The figure does however encompass an extra three million MAUs owing to an influx of new accounts stemming from an involuntary-logout error. SPOT is in a dip After a major devaluation in 2021, Spotify is trading at prices even lower than it was during the nadir of the pandemic-spurred market crash of 2020. If youd invested 10,000 in Spotify stock in. On this front, Spotify reported 19 percent year-over-year (and four percent quarter-over-quarter) growth for monthly active users (MAUs) in Q1 2022, when a peak of 422 million individuals used the platform. Jake Lerch (Spotify Technology): Like many so-called 'stay-at-home' stocks, Spotify shares skyrocketed during the height of the COVID-19 pandemic.
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