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Fly News Breaks for October 2, 2019
SPOT
Oct 2, 2019 | 06:50 EDT
Credit Suisse analyst Brian Russo upgraded Spotify Technology to Neutral from Underperform with an unchanged price target of $120. The stock closed Tuesday down $1.48 to $112.52. With a "negative narrative" gaining momentum since the summer, expectations for a Q3 subscriber miss are now priced into the stock, Russo tells investors in a research note. The analyst, who points out Spotify shares are down 28.6% over the past eight weeks and short interest in the name is now at historical highs, sees a balanced risk/reward profile in the near-term. However, Russo's longer term concerns around Spotify's subscriber and revenue growth remain.
News For SPOT From the Last 2 Days
SPOT
Mar 28, 2024 | 16:23 EDT
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SPOT
Mar 28, 2024 | 15:22 EDT
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SPOT
Mar 28, 2024 | 12:00 EDT
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SPOT
Mar 28, 2024 | 10:04 EDT
Universal Music Group (UMGNF) and Spotify (SPOT) announced an expansion of their strategic relationship that will "further amplify music discovery and social interaction and enhance fan experiences across the platform for UMG's family of artists and songwriters." "Under the agreement, Spotify will make available a series of new promotional and social features that will help artists drive interaction and generate excitement around new releases. To start, UMG artists will have the ability to share teasers of upcoming music on Spotify to increase fan engagement and pre-save activity before a new release. Additionally, a new agreement with Universal Music Publishing Group will enable Spotify to distribute music videos in the US, enabling deeper experiences with the songs, the artists, and the songwriters. The companies will continue to explore additional features that allow fans to discover artists and propel virality of new releases. They will share more details about these new tools and how artists, songwriters and fans can leverage them in the near future," the companies stated.
SPOT
Mar 27, 2024 | 15:57 EDT
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