On Nov 14, major Wall Street analysts update their ratings for $Spotify Technology (SPOT.US)$, with price targets ranging from $435 to $540.
Morgan Stanley analyst Benjamin Swinburne maintains with a buy rating, and adjusts the target price from $430 to $460.
Goldman Sachs analyst Eric Sheridan maintains with a buy rating, and adjusts the target price from $430 to $490.
BofA Securities analyst Jessica Reif Ehrlich maintains with a buy rating, and adjusts the target price from $430 to $515.
Deutsche Bank analyst Benjamin Black CFA maintains with a buy rating, and adjusts the target price from $440 to $500.
Wells Fargo analyst Steven Cahall maintains with a buy rating, and maintains the target price at $520.
Furthermore, according to the comprehensive report, the opinions of $Spotify Technology (SPOT.US)$'s main analysts recently are as follows:
Analysts note that Spotify delivered a 'very strong' Q3, with its gross margin, operating income, and free cash flow surpassing expectations. After the company disclosed Q3 results and Q4 projections, forecasts for the 2024 operating income were raised, anticipating an 'extraordinary year on margins'.
The recent Q3 outcomes and Q4 forecasts for Spotify demonstrate a continuation of the year's positive trends, with ARPU growth, gross margins, and EBIT/FCF surpassing expectations. Following several quarters of lackluster MAU net additions, there was a noticeable uptick in growth during Q3, with the Q4 outlook also exceeding forecasts. It is anticipated that Spotify will surpass 700M MAUs by 2025.
Following the Q3 report, the sentiment towards Spotify has become increasingly positive, anticipating a boost in the shares with the company's anticipated addition to the MSCI World Index on November 25. The opinion reflects that Spotify continues to be a top pick.
Post-earnings, Spotify's trajectory for margin expansion is observed to have several driving factors that could influence its growth leading into 2025.
The company delivered a robust quarter, slightly surpassing subscriber expectations, while its profit and notably free cash flow, were significantly above the anticipated figures and consensus estimates. Spotify has achieved the lower spectrum of its 30%-35% gross margin goal and is projected to reach GAAP profitability within this year.
Here are the latest investment ratings and price targets for $Spotify Technology (SPOT.US)$ from 16 analysts:
Note:
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美東時間11月14日，多家華爾街大行更新了$Spotify Technology (SPOT.US)$的評級，目標價介於435美元至540美元。
摩根士丹利分析師Benjamin Swinburne維持買入評級，並將目標價從430美元上調至460美元。
高盛集團分析師Eric Sheridan維持買入評級，並將目標價從430美元上調至490美元。
美銀證券分析師Jessica Reif Ehrlich維持買入評級，並將目標價從430美元上調至515美元。
德意志銀行分析師Benjamin Black CFA維持買入評級，並將目標價從440美元上調至500美元。
富國集團分析師Steven Cahall維持買入評級，維持目標價520美元。
此外，綜合報道，$Spotify Technology (SPOT.US)$近期主要分析師觀點如下：
分析師指出，Spotify在第三季度表現"非常強勁"，其毛利率、營業收入和自由現金流都超出預期。在公司披露第三季度業績和第四季度預測後，2024年營業收入的預測被提高，預計將會是"邊際利潤的非凡之年"。
Spotify最近第三季度的業績和第四季度的預測展示了該年度積極趨勢的延續，ARPU增長、毛利率和EBIT/自由現金流均超出預期。在連續幾個季度的MAU淨增長欠佳之後，第三季度的增長明顯回升，第四季度的展望也超過了預期。預計Spotify將在2025年前超過70000萬MAU。
在第三季度報告後，市場對Spotify的態度變得越來越積極，預計公司將於11月25日被納入MSCI世界指數，預計股價將會上漲。這種觀點反映了Spotify仍然是投資者首選。
在盈利發佈後，人們觀察到Spotify的毛利率擴張軌跡有多個推動因素，這些因素可能影響其在2025年的增長。
公司交出了強勁的一個季度，輕微超出訂閱者預期，盈利和尤其是自由現金流明顯高於預期數字和共識估計。Spotify已經實現了30%-35%毛利率目標的較低區間，並計劃在今年內實現GAAP盈利能力。
以下爲今日16位分析師對$Spotify Technology (SPOT.US)$的最新投資評級及目標價：
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