TECH - Spotify's Q1 Outlook: Analyst Anticipates Surge in Subscriber Base and Revenue Per User | Benzinga
Keybanc analyst Justin Patterson maintained Spotify Technology SA (NYSE:SPOT) with an Overweight rating and raised the price target from $300 to $350.
Spotify will report its first-quarter fiscal 2024 results before the market opens on April 23. Patterson refined his estimates and framed vital factors to watch.
The analyst now expects 2024 revenue of €15.4 billion and 2025 revenue of €18.0 billion, which reflects slightly higher ARPU growth. His 2024 operating profit decreases by 20% due to social charges, while 2025 increases by 2% due to higher revenue.
Finally, Patterson introduced 2026 revenue of €20.6 billion and an operating profit of €2.2 billion, which assumes 14% revenue growth, 29.9% ...