SPOT - Morgan Stanley Says 'Spotify The Business' Has Joined 'Spotify The Product' In Delivering For Shareholders | Benzinga
Morgan Stanley analyst reiterated an Overweight rating on the shares of Spotify Technology SA (NYSE: SPOT) and raised the price target from $190 to $200.
The analyst said 2023 highlighted the case for Spotify and has answered questions about its strength amongst tough competitors like Apple Inc (NASDAQ: AAPL), Amazon.com Inc (NASDAQ: AMZN) etc and the unit economics of the business.
Spotify reported third-quarter FY23 revenue growth of 11% year-on-year to €3.36 billion ($3.65 billion), and EPS of €0.33 or $0.36, both above the street view.
According to the analyst, advertising revenue growth, marketplace ...