Spotify (SPOT) Stock Plunges 11% as Results Show Margins are Shrinking, Analyst Reaction Mixed
- Wall Street stocks fall as weak GDP growth spreads rate-cut gloom
- Q1 US GDP shows surprise slowing and uncomfortable inflation
- Meta shares dip on softer Q2 revenue guidance, elevated AI spending plans
- Oil settles higher as weak U.S. economic growth offset by supply concerns
- Dollar sags after US GDP and inflation surprise, except against yen
- IBM tumbles on soft Q1 revenue; announces HashiCorp $6.4bn acquisition
- Hasbro (HAS) brand strength sees earnings top expectations
- Meta Platforms (META) Tops Q1 EPS by 39c, Offers Guidance
- Seagate Technology (STX) Enters $600M Asset Purchase Agreement with Avago
- Rubrik (RBRK) Prices Upsized 23.5M Share IPO at $32/sh
- Midday movers: Meta, IBM, Caterpillar fall; Chipotle rises
- After-hours movers: Meta, Ford, IBM, ServiceNow and more
- Midday movers: Tesla, Boeing rise; Uber, Old Dominion Freight fall
- After-hours movers: Tesla, Texas Instruments, Seagate, Visa and more
- Midday movers: PepsiCo, JetBlue fall; GM, Danaher and UPS rise
Spotify (SPOT) PT Lowered to $150 at Jefferies
April 28, 2022 8:30 AM EDTJefferies analyst Andy Uerkwitz lowered the price target on Spotify (NYSE: SPOT) to $150.00 (from $275.00) while maintaining a Buy rating.
The analyst commented, "SPOT reported 422MM MAUs (419MM ex-duplicate accounts) & 182MM subs. Total revenue came in at ~2.66B, below our JEFe, but slightly above... More
Spotify (SPOT) PT Lowered to $150 at Monness, Crespi, Hardt
April 27, 2022 1:35 PM EDTMonness, Crespi, Hardt analyst Brian White lowered the price target on Spotify (NYSE: SPOT) to $150.00 (from $240.00) while maintaining a Buy rating.
The analyst commented, "Spotify reported solid 1Q:22 results and issued a healthy 2Q:22 revenue outlook; however, increased investment plans dampened... More