10:30 AM EDT, 07/29/2025 (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:

We lower our target price by $20 to $675 applying a forward TEV/EBITDA of 42.7x our 2026 EBITDA estimate at EUR3.1B, or EUR15.09 per share. This compares to the 10-year historic average at 40.3x and the 2024 average at 64.6x. Nonetheless, our premium valuation underscores SPOT's dominance in global music streaming and its ability to innovate to drive new revenue growth drivers. We cut our 2025 EPS estimate by EUR2.75 to EUR5.80 and 2026 by EUR0.60 to EUR11.40, as Q2 realized a loss per share of -EUR0.40 due to wide swings in payroll taxes called Social Charges in select countries. This charge was more than double the amount in the prior year's Q2. Our revenue projections are EUR17.6B in 2025 and EUR20.2B in 2026, respectively. Finally, we think the litmus test to support a wide equity risk premium reflected in TEV/EBITDA valuation is the ability of SPOT to generate outsize growth from its global platform. The threshold that we think matters is realizing 15% or higher revenue growth.