Start your free 7-day trial of InvestingPro to get this news first. Shares were lately changing hands at $129.27.ĭon't miss another market-moving headline.

We believe that fundamentally the music business gained scale and we see Spotify leadership continuing to recognize incremental efficiency as a value-creating strength that the company can disproportionally benefit from, relative to the broader market.'Īfter InvestingPro's real-time alert went out to subscribers, shares popped nearly 3% on the open before retreating to a marginal uptick. It wrote in its note: 'We believe Spotify is positioned to more aggressively manage cost than is currently reflected in the consensus model, as expense growth in these categories exceeded music revenue growth in 2018-22. The firm said the decision hinges on its estimates of the company's subscription plan price increases and its cost management outlook. Guggenheim today upgraded Spotify (NYSE:SPOT) to Buy from Neutral, with a price target of $155 vs. Here is your daily Pro Recap of the biggest analyst picks you may have missed since yesterday.

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