Jefferies Remains a Buy on Spotify Technology S.A. (SPOT)

Spotify Technology S.A. (NYSE:SPOT) is one of the best large cap stocks to invest in for the long term. Spotify Technology S.A. (NYSE:SPOT) received a rating update from Jefferies analyst James Heaney CFA on November 17, who maintained a Buy rating on the stock with an $800 price target.

However, Philip Securities upgraded Spotify Technology S.A. (NYSE:SPOT) to Accumulate from Reduce on November 10, and raised the price target on the stock to $650 from $600. The firm told investors in a research note that the company is seeing minimal churn despite the increase in Premium prices, and also cited its improving revenue stability and pricing power after the Q3 report for the upgrade.

Spotify Technology S.A. (NYSE:SPOT) reported its fiscal Q3 2025 results on November 4, reporting a 12% year-over-year growth in subscribers to 281 million. Monthly active users rose 11% year-over-year to 713 million, and revenue grew 12% year-over-year constant currency to €4.3 billion.

Daniel Ek, Founder and CEO of Spotify Technology S.A. (NYSE:SPOT), stated that it all comes back to user fundamentals, as the company has 700 million users who keep coming back, with engagement at all-time highs. He added that Spotify Technology S.A. (NYSE:SPOT) has the necessary tools for profit expansion and revenue growth, including product innovation, pricing, operational leverage, and eventually the ad turnaround.

Spotify Technology S.A. (NYSE:SPOT) provides digital music services. The company operates through the Premium and the Ad-Supported segments.

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Disclosure: None. This article is originally published at Insider Monkey.