Spotify active users, subscribers metrics better than previewed, says Truist

Truist keeps a Buy rating and $154 price target on Spotify after its Q1 results. The company’s Monthly Active Users and Subscriber metrics were "even better than previewed as its engagement remained strong, while ad revenue was also "better than feared", the analyst tells investors in a research note. Truist is positive on Spotify given its price advantage vs competitors, management’s focus on profitability, and the prospects of a price increase this year.