Spotify has upside to consensus due to higher margin verticals - Wolfe Research
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Go back to Spotify has upside to consensus due to higher margin verticals - Wolfe Research
July 16, 2024 6:29 AM EDT
Goldman Sachs analyst Eric Sheridan raised the price target on Spotify (NYSE: SPOT) to $320.00 (from $317.00) while maintaining a Neutral rating.
The analyst comments "head of its upcoming Q2 24 earnings report, we expect Spotify (SPOT) to report solid results with possible upside on its gross margin &... More
July 11, 2024 4:17 PM EDT
Wolfe Research analyst Devin Brisco initiates coverage on Spotify (NYSE: SPOT) with a Outperform rating and a price target of $390.00.
For an analyst ratings summary and ratings history on Spotify click here. For more ratings news on Spotify click here.
Shares of Spotify closed at $304.99 yesterday.
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July 11, 2024 8:13 AM EDT
Jefferies initiated coverage on Spotify (NYSE: SPOT), Universal Music Group, and Warner Music Group Corp. (NASDAQ: WMG) with Buy ratings in a note Thursday, highlighting their strong growth prospects within the rapidly expanding music streaming industry.
The investment firm said that Spotify, in particular, has emerged as its top pick, driven by its... More
July 11, 2024 8:06 AM EDT
(Updated - July 11, 2024 11:49 AM EDT)
Investing.com -- U.S. stock futures declined Thursday despite the release of key inflation data that surprised to the downside, bolstering hopes the Fed will cut interest rates in September. Following the data investors flocked into small cap stocks, spurning heavily weighted megacap names like NVIDIA (NASDAQ: NVDA) and Apple (NASDAQ: AAPL), triggering a decline in major averages.
Here are some of the biggest U.S. stock movers... More
July 11, 2024 7:34 AM EDT
(Updated - July 11, 2024 7:46 AM EDT)
UBS analyst Batya Levi raised the price target on Spotify (NYSE: SPOT) to $400.00 (from $375.00) while maintaining a Buy rating.
The analyst commented: "We remain constructive onSPOT shares and continue to see upside to street estimates as... More
July 11, 2024 3:39 AM EDT
Jefferies analyst James Heaney assumes coverage on Spotify (NYSE: SPOT) with a Buy rating and a price target of $385.00 (from $242.00).
The analyst comments: "We are increasingly confident in SPOT's ability to comfortably deliver sustainable 15%+ rev growth over the next 3 years. Underscoring our... More
July 10, 2024 12:59 PM EDT
KeyBanc analysts are bullish on streaming giants Netflix (NASDAQ: NFLX) and Spotify (NYSE: SPOT), raising their price targets for both companies in separate notes Wednesday.
For Netflix, KeyBanc expects a strong second-quarter earnings report, citing a "strong... More
July 10, 2024 8:59 AM EDT
Redburn Atlantic has downgraded Warner Music Group (NASDAQ: WMG) and Spotify (NYSE: SPOT) shares to Sell, citing structural challenges and valuation concerns.
For WMG, Redburn highlights the discrepancies between their streaming growth projections and consensus forecasts.
Despite factoring in announced cost savings, their adjusted OIBDA (Operating Income Before Depreciation and Amortization) forecasts... More
July 10, 2024 4:22 AM EDT
Redburn-Atlantic analyst Agnieszka Pustula downgraded Spotify (NYSE: SPOT) from Neutral to Sell with a price target of $230.00.
The analyst comments: "Our analysis suggests that consensus is overestimating the potential of price-led growth which, alongside maturing streaming penetration in western markets, pose a significant... More
July 10, 2024 12:20 AM EDT
(Updated - July 10, 2024 7:53 AM EDT)
KeyBanc analyst Justin Patterson raised the price target on Spotify (NYSE: SPOT) to $410.00 (from $400.00) while maintaining a Overweight rating.
The analyst commented, "Given recent pricing changes, we believe consensus may be too... More
