Pivotal upgrades Spotify to buy after big stock drop, sees users doubling

The Spotify app on an iPhone.
Fabian Sommer | picture alliance | Getty Images

Soft user growth during the opening months of 2021 doesn't change Spotify's long-term bull case, research firm Pivotal said Thursday.

Shares of the company crated by 12% on Wednesday after the first-quarter report showed slower-than-expected growth for monthly active users. However, Pivotal analyst Jeffrey Wlodarczak said the com