Citizens Initiates Spotify (SPOT) with $800 PT, Cites Pricing Power and Audio Dominance

Core Viewpoint - Spotify Technology (NYSE:SPOT) is positioned as a strong investment opportunity for the next five years, with analysts highlighting its pricing power and dominance in the audio streaming market [1][2]. Group 1: Analyst Ratings and Price Targets - Citizens analyst Matthew Condon initiated coverage of Spotify with an Outperform rating and a price target of $800, citing the company's evolution into a multi-format audio platform [1]. - Jefferies analyst David Chiaverini maintained a Buy rating on Spotify, also with a price target of $800 [2]. Group 2: Product Expansion and User Engagement - Spotify announced the expansion of its music video beta to Premium subscribers in the US and Canada, allowing users to access a curated catalog of official music videos within the app [3]. - Engagement data indicates that users who discover a track via music video are 34% more likely to stream it again and 24% more likely to save or share it the following week, with super listeners increasing their streaming of that artist by an average of 85% in the month following video engagement [4]. Group 3: Company Overview - Spotify provides audio streaming subscription services worldwide, operating through two segments: Premium and Ad-Supported [5].