Canaccord analyst Maria Ripps raised the firm’s price target on Spotify to $170 from $150 and keeps a Buy rating on the shares. The analyst said they reported generally solid Q1 results, as ad-supported MAU and Premium subscribers both came in ahead of expectations, with MAU net adds of 26M marking a new Q1 record and a fifth consecutive quarter of accelerating user growth.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on SPOT: