Spotify (SPOT) PT Lowered to $200 at RBC Capital
RBC Capital analyst Mark Mahaney lowered the price target on Spotify (NYSE: SPOT) to $200.00 (from $215.00) while maintaining an Outperform rating following in-line Q3 results but slightly lowered its Q4 Premium Subs and Gross Margin guidance.
Keys for the quarter, according to Mahaney:
1. Neutral MAU Trends
2. Consistent Premium Sub Growth
3. Premium ARPU Below Expectations