financetom
Personal Finance
financetom
/
Personal Finance
/
Research Alert: CFRA Keeps Hold Opinion On Shares Of Spotify Technology S.a.
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Research Alert: CFRA Keeps Hold Opinion On Shares Of Spotify Technology S.a.
Apr 23, 2024 7:16 AM

09:50 AM EDT, 04/23/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We raise our target by $83 to $325 using a forward P/E of 67.0x our '24 earnings estimate, below the five-year historic average of 78.0x. We increase our 2024 EPS estimate to €4.85 from €2.40 and 2025's to €6.30 from €3.95. SPOT posted Q1 2024 EPS of €0.97, a €0.32 earnings beat, driven by 20% Y/Y revenue growth (revenue in line with consensus) and significantly wider gross margins (27.6% vs. 25.2%). In Q1, total subscribers were 615M (+19% Y/Y), with premium subs at 239M (+14%) and lower priced ad-supported subs at 388M (+22%). By geography, Europe was 38% of total subscribers, North America (27%), Latin America (22%), and rest of world (13%), with strong growth in family and duo plans. On a sequential basis, SPOT's Q2 guidance is 631M subscribers (+2.6%), premium subs at 285M (+19%), gross margins at 28.1% (+50 bps), and €250M operating income. Audio books and podcasts are added sources of growth. Spotify AUX is an in-house advisory agency for brands seeking to use music to enrich their ad campaigns.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Research Alert: CFRA Keeps Buy Opinion On Shares Of Goodrx Holdings, Inc.
Research Alert: CFRA Keeps Buy Opinion On Shares Of Goodrx Holdings, Inc.
May 15, 2024
01:20 PM EDT, 05/15/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We raise our 12-month target price by $1 to $9 based on an enterprise value of 13.4x our 2025 EBITDA estimate, a discount to GDRX's historical average due a slowing...
Stock Market Today: Stocks Close at Record Highs After April CPI
Stock Market Today: Stocks Close at Record Highs After April CPI
May 15, 2024
Stocks opened higher Wednesday and kept climbing into the close as market participants cheered encouraging inflation news. A strong rally in several large- and mega-cap tech stocks created tailwinds, too, with the three main indexes notching record highs.   Wall Street was anxiously awaiting this morning's release of the April Consumer Price Index (CPI) and the data did not disappoint....
Research Alert: CFRA Reiterates Sell Opinion On Shares Of Spirit Airlines, Inc.
Research Alert: CFRA Reiterates Sell Opinion On Shares Of Spirit Airlines, Inc.
May 15, 2024
12:45 PM EDT, 05/15/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: Our 12-month target of $3.50, up $0.50, reflects a 4.3x multiple of EV to projected 2025 EBITDA, a discount to SAVE's historical average. We think a discount is merited due...
Research Alert: CFRA Lowers Opinion On Adrs Of Siemens To Buy From Strong Buy
Research Alert: CFRA Lowers Opinion On Adrs Of Siemens To Buy From Strong Buy
May 16, 2024
04:40 AM EDT, 05/16/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We raise our target price for SIE to US$107 from US$103 based on a forward EV/EBITDA of 12x. We have removed the previous discount in valuation as we foresee minimal...
Copyright 2023-2025 - www.financetom.com All Rights Reserved