Spotify to cut 1,500 jobs in third layoff round this year, shares jump
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Spotify (SPOT) PT Raised to $220 at JPMorgan
December 4, 2023 3:12 PM ESTJPMorgan analyst Doug Anmuth raised the price target on Spotify (NYSE: SPOT) to $220.00 (from $205.00) while maintaining a Overweight rating.
The analyst comments "Spotify announced today that it is reducing headcount by 17% (~1,550 employees), the third wave of reductions this year (~600 employees in January & ~200 in June). We believe the reductions are broad-based across the company, including areas such as engineering, business units, and G&A roles. To account for related severance and additional real estate... More
Spotify (SPOT) Mentioned Positively at Evercore
December 4, 2023 12:58 PM ESTEvercore ISI analyst Mark Mahaney reiterated an Outperform rating and $200.00 price target on Spotify (NYSE: SPOT)
The analyst comments "Our View: In something of a surprise, Spotify announced this morning a 17% RIF (Reduction in Force), impacting approximately 1,500 of its employees. This is now the 3rd significant cost action Spotify has taken in the... More
