Wells Fargo raised the firm’s price target on Spotify (SPOT) to $520 from $470 and keeps an Overweight rating on the shares. The firm notes Q3 plus Q4 MAUs/subs are in line, while the all-important margin performance continues to show a bullish paradigm shift. Ads are lagging but small, with programmatic to help by 2026, Wells adds. The firm notes Spotify is its Top Pick.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SPOT:
- Spotify price target raised to $475 from $385 at Barclays
- Spotify downgraded to Accumulate from Buy at Phillip Securities
- Spotify price target raised to $565 from $510 at Pivotal Research
- Closing Bell Movers: Instacart down 6% after earnings
- SPOT Earnings: Spotify Stock Rises 7% on Bullish Forward Guidance