10:40 AM EDT, 04/30/2025 (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:

One of the challenges to stay bullish on SPOT's stock is the outsized high multiples to consider with valuation. Given a cloudy first half of 2025, we lower our target price by $65 to $610, applying a narrower risk premium and a forward TEV/EBITDA of 48.7x compared to the historic five-year average at 65.0x. We lower our 2025 EPS estimate by EUR95 to EUR8.55 (consensus at EUR8.81) and raise 2026 by EUR0.10 to EUR12.00 (EUR12.74). Visibility of accelerated revenue growth is highly dependent on second half 2025 performance, in our opinion. Our revenue forecast is $18.1B in 2025 compared to $15.7B in 2024 and $20.5B in 2026. We think 14%-16% revenue growth is doable, but the issue remains the multiple on SPOT's enterprise value, which has historically been very high.