SPOT - Spotify's Mobile App Momentum and Margin Focus To Surge in Q3 Analyst Says | Benzinga
Truist analyst Matthew Thornton reiterated a Buy rating on Spotify Technology S.A. (NYSE: SPOT) with a price target of $176.
Mobile app download (MADs) momentum continued in 3Q. The analyst views the second half consensus as set very reasonably across MAUs (based on MADs data set), subscribers (based on funnel/conversion data set), revenue (FX a tailwind), gross margin, and operating income.
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