Section 1: Company Fundamentals

1.1 Summary Table

1.2 The Key Positives, Negatives, and Investment summary

1.3 Key Metrics:

SPOT over the last five years has shown an upward trending momentum in its revenues and gross profits. SPOT has grown its revenues and gross profit at an impressive 5-year CAGR of 28.48% and 47.15% respectively. Higher CAGR for gross profit than revenue meant improved gross margins signifying increased efficiency of the company to control the cost of revenues.

Section 2: Spotify Technology SA (“Buy” at the current market price of USD 92.39 as of October 04, 2022, at 7:20 AM PDT)

2.1 Company Details

2.2 Valuation and Technical Guidance

Markets are trading in a highly volatile zone currently due to certain macro-economic and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: The reference data in this report has been partly sourced from REFINITIV.

Note 2: Investment decisions should be made depending on the investors’ appetite for upside potential, risks, holding duration, and previous holdings. Investors can consider exiting the stock if the Target Price mentioned as per the Valuation has been achieved and is subject to the factors discussed above.

Note 3: The report publishing date is as per the Pacific Time Zone.

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and the uptrend may take a pause due to profit booking or selling interest.

Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.

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