Strong Results Drive Analyst Confidence in Spotify Technology S.A. (SPOT)

Spotify Technology S.A. (NYSE:SPOT) is one of the champion overseas stocks to bargain close now. On February 11, Bernstein SocGen Group expert Ian Moore reaffirmed an Outperform standing connected Spotify Technology S.A. (NYSE:SPOT) and maintained a $650 terms target.

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According to the analyst, the determination was based connected Spotify’s stellar performance. Moore was referring to Spotify’s blowout Q4 net results and besides noted that the company’s absorption gave a promising Q1 guide. The expert besides noted that Spotify’s banal closed up 15% and partially recovered from a January rout, which Moore associated with competitory threats from euphony procreation and manipulation startups.

On the aforesaid day, Benchmark reiterated a Buy standing connected Spotify banal and maintained a $760 terms target. Like Bernstein, Benchmark’s determination was a absorption to Spotify’s Q4 results. The steadfast described Spotify arsenic having delivered “an exceptionally cleanable quarter.”

It noted that Spotify’s Q4 show helped code concerns astir mean gross per user, gross margin, and subscriber growth, adding that its presumption counters narratives suggesting AI euphony exertion could disrupt Spotify’s concern model.

Benchmark besides highlighted Spotify management’s presumption that AI volition unit aggregation successful the euphony industry. This, they noted, gives an borderline to ample platforms with data, distribution, and manufacture alignment similar Spotify. The steadfast emphasized Spotify’s content that AI-driven contented instauration volition grow the planetary audio catalog and boost the worth of the company’s personalization, discovery, and monetization capabilities.

Spotify Technology S.A. (NYSE:SPOT) is simply a Luxembourg-based institution that operates the world’s largest audio streaming platform. It offers music, podcasts, and integer contented to hundreds of millions of users globally.

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Disclosure: None. This nonfiction is primitively published at Insider Monkey.