Goldman Sachs Raises Forecast On Spotify, Cites User Engagement Growth and Potential Deluxe Tier Revenue

Goldman Sachs analyst Eric Sheridan maintained a Buy rating on Spotify Technology SA SPOT and a price target of $430 (up from $425). Ahead of its third-quarter 2024 earnings report, Sheridan previewed current industry data, addressed key investor debates, and highlighted the potential revenue contribution from a deluxe tier for Spotify over the long term. Since its last earnings report, Spotify stock has outperformed (+13% versus the SPX +2% over the same period), which continues a pattern of the past 12 mo ...