Spotify (SPOT) cuts Q4 forecast after major job cuts
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December 4, 2023 3:12 PM EST
JPMorgan 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
December 4, 2023 12:58 PM EST
Evercore 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
December 4, 2023 4:45 AM EST
DZ Bank analyst Markus Leistner raised the price target on Spotify (NYSE: SPOT) to $150.00 (from $130.00) while maintaining a Sell rating.... More
December 1, 2023 10:46 AM EST
Spotify (NYSE: SPOT) was downgraded to Neutral from buy at Citi in a note Friday, with analyst Jason Bazinet maintaining a $190 per share price target on the stock.
Bazinet told investors that while they like SPOT's strategy and execution, they no longer... More
