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Fly News Breaks for April 25, 2018
SPOT
Apr 25, 2018 | 09:00 EDT
MKM Partners analyst Rob Sanderson keeps his Buy rating and $200 price target on Spotify, saying the company's newly revamped free service aims to enhance music discovery and personalization through playlists and curated stations. The analyst believes the upgrade is a "step forward" and will serve as a "differentiator" for its product, which the company estimates to already have over 5-times the music data relative to any of its competitors. Sanderson adds that Spotify is becoming "more valuable as a marketing vehicle for the music industry" as it builds toward "increasingly favorable economics".
News For SPOT From the Last 2 Days
SPOT
Apr 24, 2024 | 08:02 EDT
Loop Capital analyst Alan Gould raised the firm's price target on Spotify to $300 from $250 and keeps a Hold rating on the shares. The company's Q1 results demonstrated "impressive profit and cash flow growth", though there was a small miss on ad-supported subscriber metric, partially due to some pull forward in Q4 and an over-correction on marketing spend, the analyst tells investors in a research note. Audiobooks are also a drag on profits, but Podcasting should be profitable for the year, though it contributed a small loss to Spotify during the quarter, the firm added.
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Apr 24, 2024 | 07:16 EDT
Guggenheim analyst Michael Morris raised the firm's price target on Spotify to $350 from $290 and keeps a Buy rating on the shares after the company reported Q1 results that were highlighted by the company's largest ever operating income quarter and expanding gross margin. The company's Q2 profitability guidance was "similarly strong," the analyst added in an earnings recap note.
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Apr 24, 2024 | 06:33 EDT
Wells Fargo raised the firm's price target on Spotify to $400 from $310 and keeps an Overweight rating on the shares. A year ago, Spotify's long-term profitability was in question, the firm notes. Now, it's a question of "how good?" margins can get. Wells believes strong profit growth supports its 41-times EV/EBITDA multiple.
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Apr 23, 2024 | 16:25 EDT
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here
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Apr 23, 2024 | 12:43 EDT
Evercore ISI raised the firm's price target on Spotify to $340 from $285 and keeps an Outperform rating on the shares following what the firm describes as "Beat & Raise Q1 EPS results." The "Big Story" this quarter was profitability, with gross margin and operating income both at record highs, says the analyst, who is removing the stock from the firm's "Tactical Underperform" list. The list inclusion was based on risks to Q1 operating income and to the Q2 MAU outlook and while "both of these risks materialized," they were "utterly swamped by the major Gross Margin inflection point," the analyst tells investors.
SPOT
Apr 23, 2024 | 12:00 EDT
SPOT
Apr 23, 2024 | 11:57 EDT
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here
SPOT
Apr 23, 2024 | 10:00 EDT
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Apr 23, 2024 | 09:47 EDT
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Apr 23, 2024 | 09:04 EDT
Check out this morning's top movers from around Wall Street, compiled by The Fly. UP AFTER EARNINGS... To see the rest of the story go to thefly.com. See Story Here
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Apr 23, 2024 | 06:13 EDT
Reports Q1 ad supported MAUs 388M vs. 317M last year.
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Apr 23, 2024 | 06:10 EDT
SPOT
Apr 23, 2024 | 06:04 EDT
Reports Q1 MAUs 615M vs. 515M last year. "Overall, we are encouraged by the strong start to the year and view the business as well positioned to deliver on the goals outlined at our 2022 Investor Day."
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