SPOT - Spotify Demonstrates Robust Financial Health With Impressive Q1 Revenue Margin Improvements: Analyst | Benzinga
Goldman Sachs analyst Eric Sheridan had a Neutral rating on Spotify Technology SA (NYSE:SPOT) with a price target of $277.
Spotify reported fiscal first-quarter 2024 revenue growth of 20% year-on-year to $3.95 billion, beating the consensus of $3.85 billion. EPS of $1.05 beat the consensus of $0.70.
The stock price jumped Tuesday after the print.
The analyst expects Spotify to have a positive market reaction to its first-quarter 2024 earnings report (including its forward second-quarter 2024 commentary) as the company reported roughly in-line subscriber and revenue performance across its businesses with some headwinds to forward revenue and subscriber momentum in the forward forecast.
In addition (and likely the more significant ...