Spotify's Long-Term Growth and Pricing Power Set to Boost Revenue: Analyst

KeyBanc analyst Justin Patterson reiterated an Overweight rating on Spotify Technology SA SPOT with a price target of 410, up from $400. While Patterson is mindful that near-term net add guidance can weigh on the stock, he noted that this misses the bigger picture. Also Read: Spotify Discontinues Car Thing Device, Shifts Focus to New User Features Patterson expects second-quarter MAUs to be in line at 631 million and an upward bias to his and Street Premium Subscribers of 245 million, equating to net adds o ...