Jefferies Reiterates a Buy on ​Spotify Technology (SPOT), Keeps the PT

​Spotify Technology S.A. (NYSE:SPOT) is one of the Best Communication and Media Stocks to Buy Now. On November 17, James Heaney CFA from Jefferies reiterated a Buy rating on Spotify Technology S.A. (NYSE:SPOT) with a price target of $800. However, earlier on November 13, Jason Bazinet from Citi maintained a Hold rating on the stock with a $750 price target.

​The ratings follow the introduction of a new Premium Platinum plan announced on November 13. The new tiers include Premium Lite, Premium Standard, and Premium Platinum for India, Indonesia, the United Arab Emirates, Saudi Arabia, and South Africa. Earlier, on August 4, Spotify Technology S.A. (NYSE:SPOT) had also raised its monthly premium subscription price to 11.99 euros per month from 10.99 euros in South Asia, the Middle East, Africa, Europe, Latin America, and the Asia-Pacific region.

​Analysts believe that while the new pricing strategy might boost the company’s topline growth, the change is limited to only a small percentage of premium subscribers. In addition, the introduction of the new tiers also does not align with that anticipated ‘Superfan’ offering and reflects management’s strategic shift towards increasing average revenue per user (ARPU).

​Management during the fiscal Q3 2025 earnings call noted forecasting a 13% revenue growth for Q4 along with a year-on-year ARPU growth of around 2%.

​Spotify Technology S.A. (NYSE:SPOT) is a Swedish company that operates a global audio-streaming platform, offering music, podcasts, and audiobooks to users across subscription and ad-supported tiers.

While we acknowledge the potential of SPOT to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SPOT and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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