Spotify Inc. (SPOT:NSD) Benchmark raises target as earnings on deck

Stock Market Update for March 13th 2024

Analyst Coverage Change

On Monday January 30th, Benchmark Research issued a research report on Spotify Inc. and maintained the current “Buy” rating. The target price for the company’s stock  has been revised from $125 to $130 per share.

Spotify Stock Forecast & Analysis

According to 21 analyst stock forecasts for Spotify Technology SA, the average target price is USD 117.93 over the next 12 months. The average analyst rating for the company is a “Strong Buy”.  Stock Target Advisor’s own analysis of Spotify Technology SA is slightly bearish, based on a balance of 3 positive signals and 6 negative signals. The current stock price is USD 102.24, which has increased by 4.42% in the past week, 29.40% in the past month, but has decreased by 40.89% over the last year.

Spotify Earnings Forecasts

Spotify is reporting its Q4 financial results on Tuesday. The company has struggled with declining margins, layoffs, and profitability. The consensus estimate is revenue of €3.18B, adjusted loss per share of -€1.29, and 479 million total monthly active users. Gross margins are expected to be 24.5%, which is roughly on par with Q3’s result. The company aims for gross margins of 30-35% over the long term with plans to scale its podcasting and ads business. Free cash flow is expected to be negative in Q4, after reporting positive FCF in Q3, due to greater medium-to-long term investments. The company’s CFO has warned of negative FCF in Q4, but still expects to be free cash flow positive for the year.

About Spotify

Spotify Technology S.A. is a Swedish music streaming and media services provider founded in 2006. It offers music, podcast, and video streaming to users worldwide through its proprietary platform. Spotify allows users to stream, discover, and share music with others and provides access to a library of over 70 million tracks. The company operates on a freemium business model, with a free, ad-supported service and a premium service that offers ad-free streaming and additional features. Spotify went public in 2018 and is listed on the New York Stock Exchange (NYSE) under the ticker symbol SPOT. The company has faced challenges such as declining margins, intense competition, and the need to turn a profit, but is still considered one of the largest music streaming platforms globally with a user base of over 200 million subscribers.

 

 

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