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Spotify:Quarterly Results/2023 Q3: Difference between revisions
Spotify:Quarterly Results/2023 Q3 (view source)
Revision as of 19:15, 19 October 2023
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== Analyst Opinions == | == Analyst Opinions == | ||
=== Guggenheim === | |||
* Guggenheim raised Spotify price target to $175 from $160 and maintained buy rating on the stock.<ref>https://thefly.com/landingPageNews.php?id=3794768&headline=SPOT-Spotify-price-target-raised-to--from--at-Guggenheim&utm_source=https://thefly.com/news.php%3fsymbol=SPOT&utm_medium=referral&utm_campaign=referral_traffic</ref> | |||
* Analyst Michael Morris said third-party data indicates premium subscribers in the third-quarter are likely in-line or ahead of the 4 million net adds guided by the management. | |||
* The analyst sees sustained pricing power and cost discipline in an “under-appreciated” economic cycle. | |||
=== Morgan Stanley === | |||
* Morgan Stanley increased Spotify’s price target to $190 from $185, maintained its buy rating and uplifted it to Top Pick.<ref>https://thefly.com/landingPageNews.php?id=3792173&headline=SPOT-Spotify-price-target-raised-to--named-a-Top-Pick-at-Morgan-Stanley&utm_source=https://thefly.com/news.php%3fsymbol=SPOT&utm_medium=referral&utm_campaign=referral_traffic</ref> | |||
* Analyst Benjamin Swinburne said Spotify’s growing user engagement and continued product developments will its market share and pricing power. | |||
* He also sees an “increasingly rational competitive environment.” | |||
=== Monness, Crespi, Hardt === | |||
* Monness, Crespi, Hardt lowered Spotify’s rating to “neutral” from “buy” due to a downturn potential.<ref>https://seekingalpha.com/news/4016165-spotify-slips-monness-crespi-hardt-downgrades-after-strong-2023-rally</ref><blockquote>“Spotify is riding a favorable long-term trend, enhancing its platform, tapping into a large digital ad market, expanding its audio offerings, and improving its cost structure; however, competition is fierce, margins thin, and we believe the darkest days of this downturn are ahead of us,” Analyst Brian White wrote.</blockquote> | |||
* White added that the upcoming price hikes could be negative to the consumers, and thus, the company. | |||
* White expects Spotify’s third-quarter revenue to grow by 9% y/y to €3.32B, slightly below analyst’s estimate of €3.334B. | |||
* He expects its monthly active users to grow 26% to 574M. | |||
== Spotify Google Play Downloads == | == Spotify Google Play Downloads == | ||