Spotify (SPOT) Stock: $260 Price Target And Buy Rating

By Amit Chowdhry ● Mar 4, 2022
  • The shares of Spotify Technology SA (NYSE: SPOT) have received a $260 price target from Benchmark. These are the details.

The shares of Spotify Technology SA (NYSE: SPOT) have received a $260 price target from Benchmark. And Benchmark analyst Matthew Harrigan is maintaining a “Buy” rating on the shares.

Harrigan said that he does not see yesterday’s +6% selloff in Spotify as warranted — certainly not off the decision to exit Russia. And Harrigan estimates that Spotify’s current stock price implies just 250 million premium customers in 2030 with an operating margin of just 9%, or what is known as “unrealistically dire 2030 prospects.”

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.