SPOT Price Prediction Next Week
Technical Analysis: SPOT's recent price movement shows strong momentum, with the stock reaching $621.77. The stock has demonstrated remarkable strength, surging approximately 180% over the past 12 months.
News Impact & Fundamental Drivers:
- Q4 2024 Performance: Revenue of $4.53 billion, up 16% YoY, beating analyst estimates of $4.15 billion
- First full year of profitability in 2024, with Q4 profit reaching €367 million
- Strong user metrics: 675 million monthly active users (12% YoY growth) and 263 million paying subscribers (11% growth)
- Paid $10 billion to the music industry in 2024
Analyst Consensus & Price Targets: Recent analyst updates show bullish sentiment:
- Goldman Sachs: $695 (Buy)
- Morgan Stanley: $670 (Overweight)
- Barclays: $710 (Buy)
- BofA: $700 (Buy)
Price Prediction for Next Week: Based on technical indicators and recent momentum:
- Support level: $590
- Resistance level: $650
- Expected trading range: $600-$640
Recommendation: SELL Despite strong fundamentals, several factors suggest taking profits:
- Stock is trading near all-time highs
- Rosenblatt downgraded to Neutral, citing expected revenue growth deceleration in 2025
- Technical indicators suggest overbought conditions
- Projected Q1 2025 gross margin decline signals potential challenges
Target exit price: $620-630 range, with stop-loss at $650.
SPOT Similar Chart Price Prediction
The price of SPOT is predicted to go up 6.44%, based on the high correlation periods with CDNA. The similarity of these two price pattern on the periods is 98.94%.
SPOT
CDNA
Up: 6.44%Similarity: 98.94%
SPOT Revenue Forecast
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SPOT VS S&P500
Spotify's listener growth may help the firm negotiate much better terms with record labels over time.
By investing in more services and tools for artists, Spotify may attract artists away from record labels and toward independent distribution, which may allow it to pay lower royalties over time.
Spotify will benefit from expanding its breadth of offerings as it invests in content such as podcasts and video, attracting more users and advertisers.
SPOT Analyst's Forecast
Jason Bazinet
Citigroup
Hold
2025-02-14
Price Target
$540 → $720
Upside
+12.82%
Citi upgraded Warner Music (WMG) to Buy from Neutral with a price target of $42, up from $34. Over the past year, Spotify (SPOT) shares have far outpaced the music labels, but on the heels of new contracts between Spotify and the labels, some of this gap will narrow as labels have secured price escalators independent of Spotify's average revenue per user, the analyst tells investors in a research note. In addition, Citi believes Spotify's pending launch of a "Supremium" tier may help both Spotify and the labels. While all of this is good news for the sector, Warner "currently fetches a far lower multiple than either UMG or SPOT," the firm adds. As such, it upgraded Warner Music to Buy.
Justin Patterson
Keybanc
Buy
2025-02-05
Price Target
$600 → $675
Upside
+7.83%
Maria Ripps
Canaccord Genuity
Strong Buy
2025-02-05
Price Target
$650 → $700
Upside
+11.82%
