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ProShares On-Demand ETF
As of May 30, 2026 at 09:02 UTC
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Latest News
5 articlesOn Tuesday, Spotify Technology SA (NYSE:SPOT) reported fiscal first-quarter 2024 revenue of $3.95 billion (3.64 billion euros), up 20% year-on-year, beating the consensus of $3.85 billion. EPS of $1.05 (97 cents) beat the consensus of $0.70. Analysts offered their takes on the stock. J.P. Morgan analyst Doug Anmuth maintained Spotify with an Overweight and raised the price target from $320 to $365. Spotify is the largest pure-play audio streaming service and is both driving and benefitting from the ongoing secular shift from transaction-based to access-based streaming models, according to the analyst. Gross margin strength is driven by music & marketplace gains, podcast improvement, other cost of revenue leverage, & advertising, with additional cost efficiencies helping to drive significant operating and net income growth & meaningfully higher FCF in 2024, Anmuth said. Also Read: Spotify Demonstrates Robust Financial Health With Impressive Q1 Revenue, Margin Improvements: Analyst Notably, Spotify remains confident in achieving the medium-term financial targets laid out at its 2022 Investor Day of 30-40% gross margins and 10%+ operating margin, the analyst noted. He expects revenue growth to accelerate in 2024, supported by more balanced growth across Premium Subscribers. While MAU growth has decelerated, it remains strong at +19% in the first quarter, and Spotify will ramp up S&M spending through the year to support top-of-funnel improvements. Anmuth projected 2024 net adds of 81 million for MAUs (vs. 113 million in 2023) & 27 million for Premium Subscribers (vs. 31 million in ...Full story available on Benzinga.com
Keybanc analyst Justin Patterson maintained Spotify Technology SA (NYSE:SPOT) with an Overweight rating and raised the price target from $300 to $350. Spotify will report its first-quarter fiscal 2024 results before the market opens on April 23. Patterson refined his estimates and framed vital factors to watch. The analyst now expects 2024 revenue of €15.4 billion and 2025 revenue of €18.0 billion, which reflects slightly higher ARPU growth. His 2024 operating profit decreases by 20% due to social charges, while 2025 increases by 2% due to higher revenue. Finally, Patterson introduced 2026 revenue of €20.6 billion and an operating profit of €2.2 billion, which assumes 14% revenue growth, 29.9% ...Full story available on Benzinga.com