Analyst Explains Why He’s Buying This Stock That’s Up 500% Over the Past 3 Years

CNBC’s Investment Committee recently talked about Spotify Technology SA (NYSE:SPOT) following a new ratings action on the stock. The panel highlighted that the stock is up over 500% over the past three years. Joseph Terranova, who owns the stock, commented on why he likes the company:

“It has been a clear winner as it relates to momentum, and it has a lot of fundamental strength behind it. Monthly active users up to 678 million,” he said.

Sands Capital Select Growth Strategy stated the following regarding Spotify Technology S.A. (NYSE:SPOT) in its Q1 2025 investor letter:

“Spotify Technology S.A. (NYSE:SPOT) is the world’s largest subscription streaming audio service by market share. The business delivered strong fourth-quarter 2024 results, with robust revenue and monthly active user growth, along with gross and operating margin expansion. It also reported its strongest quarter of premium subscription net additions in five years. Management is calling 2025 the “year of accelerated execution” following 2024’s “year of monetization.” We view this as a positive signal of continued operating expense discipline and product innovation, including the launch of a new premium “Music Pro” tier.”

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