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SPOT

Spotify

$159.86

3.155 (2.01%)

07:06
05/15/18
05/15
07:06
05/15/18
07:06

Spotify initiated with a Sell at Loop Capital

Loop Capital analyst Alan Gould initiated Spotify (SPOT) with a Sell rating and a price target of $120, saying the company's comparison to Netflix (NFLX) based on its status of a streaming music leader is not justified. Gould states that Spotify does not have a similar competitive lead as Netflix does, adding that the "music oligopoly will make it difficult for music streaming to achieve the same margin as video". The analyst concludes that at 4.5-times projected sales, the multiple on Spotify is too high.

SPOT Spotify
$159.86

3.155 (2.01%)

05/02/18
05/02/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Alcoa (AA) initiated with a Buy at Jefferies. 2. Spotify (SPOT) initiated with a Buy at SunTrust. 3. Skyworks (SWKS) initiated with an Outperform at Baird. 4. Mallinckrodt (MNK) initiated with a Neutral at B. Riley FBR. 5. CatchMark Timber (CTT) initiated with a Sector Perform at RBC Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
05/03/18
JPMS
05/03/18
NO CHANGE
Target $190
JPMS
Overweight
Spotify Q1 solid, but Street expected more, says JPMorgan
JPMorgan analyst Doug Anmuth says Spotify reported "solid" Q1 results but that the Street expected more upside in the company's first quarter as a public company. He believes management's guidance philosophy going forward is to deliver in the upper half of the range. Anmuth sees Spotify shares likely pulling back in the near term but notes his positive thesis is unchanged. The analyst keeps an Overweight rating on the stock with a $190 price target.
05/03/18
RBCM
05/03/18
NO CHANGE
Target $210
RBCM
Outperform
Spotify price target lowered to $210 from $220 at RBC Capital
RBC Capital analyst Mark Mahaney lowered his price target on Spotify to $210 after its in-line Q1 results - the first reported quarter as a public company. The analyst says that while the monthly average user growth matched expectations, the premium Average Revenue Per User metric was slightly below forecasts, while the 14% annual decline was similar to that of the prior quarter. Mahaney keeps his Outperform rating on Spotify, noting that the company is a global leader in the streaming music trend.
05/03/18
STFL
05/03/18
NO CHANGE
Target $180
STFL
Buy
Spotify growth narrative intact, says Stifel
Stifel analyst John Egbert said Spotify's Q1 subscriber additions and revenue came in near the high-end of guidance and that its operating losses were not as bad as expected. In addition, its guidance for Q2 "reflected healthy trends across the business," he said. The analyst, who thinks the growth narrative remains intact for Spotify, maintains his Buy rating and $180 price target on the shares.

TODAY'S FREE FLY STORIES

YRCW

YRC Worldwide

$9.17

0.06 (0.66%)

21:15
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MELI

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$328.40

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ZTS

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$92.09

-0.08 (-0.09%)

21:12
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ANDV

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0.28 (0.19%)

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SBUX

Starbucks

$54.00

0.08 (0.15%)

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URBN

Urban Outfitters

$47.75

0.23 (0.48%)

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LOW

Lowe's

$99.76

0.8 (0.81%)

, TGT

Target

$83.28

-0.04 (-0.05%)

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0.8 (0.81%)

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Analog Devices

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SPY

SPDR S&P 500 ETF Trust

$286.28

0.6 (0.21%)

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AMZN

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SPX

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$0.00

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, SPY

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Facebook

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FireEye

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SE

Sea Limited

$14.31

0.47 (3.40%)

19:06
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URBN

Urban Outfitters

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0.23 (0.48%)

, LZB

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TMUS

T-Mobile

$66.57

0.71 (1.08%)

, S

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$6.18

0.01 (0.16%)

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  • 10

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AOI

Alliance One

$18.10

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  • 12

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HA

Hawaiian Holdings

$43.70

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  • 06

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AL

Air Lease

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CAAP

Corporacion America Airport

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  • 22

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GLD

SPDR Gold Trust

$113.02

0.35 (0.31%)

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PEB

Pebblebrook Hotel

$39.18

0.17 (0.44%)

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$36.49

-0.31 (-0.84%)

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ZNGA

Zynga

$3.75

0.01 (0.27%)

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  • 06

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SPX

S&P 500

$0.00

(0.00%)

, SPY

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$286.28

0.6 (0.21%)

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KTOS

Kratos Defense

$13.14

0.18 (1.39%)

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  • 13

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LMT

Lockheed Martin

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HOLX

Hologic

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0.23 (0.60%)

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