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SPOT

Spotify

$186.31

-1.55 (-0.83%)

12:40
07/25/18
07/25
12:40
07/25/18
12:40

Bullish option play in Spotify as shares slip ahead of earnings

Bullish option play in Spotify as shares slip ahead of earnings. The stock down $1.69 to $186.12 on an analyst downgrade and 500 Aug 190 - 210 call spreads trade for $5.30 on ISE. The spread has traded 2K and is opening customer buying, according to exchange data. If so, the position targets a 23-day 12.8% move to $210 or better and is being opened ahead of earnings tomorrow morning. The stock sank 5.7% to $160.38 on 5/3 after its previous report, but has since rallied 16% and reached new highs of $188.35 on 7/12.

  • 26

    Jul

SPOT Spotify
$186.31

-1.55 (-0.83%)

07/25/18
07/25/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. VERTICAL GROUP RAISES SNAP RATING: Vertical Group analyst Phil Leggiere upgraded Snap (SNAP) to Mixed from Negative citing expectations for strong second half 2018 spending. Snap is higher by over 1% in late morning trading. PIVOTAL CUTS SPOTIFY TO HOLD: Pivotal Research analyst Jeffrey Wlodarczak downgraded Spotify (SPOT) to Hold from Buy with an unchanged price target of $200. The analyst cited valuation for the downgrade, given the "material rise" in the shares since his initiation report on May 29. Further, he increasingly views consensus 2018 premium monthly active user growth expectations as too aggressive. He lowered his Q2 premium subscriber MAU estimate from 6M to 5.5M, versus the consensus at 7M. Spotify's current valuation is fair and does not leave a lot of room for "operational/market hiccups," Wlodarczak told investors. DEUTSCHE SEES AMERITRADE/E-TRADE MERGER MAKING SENSE: Deutsche Bank analyst Brian Bedell continues to see a merger between TD Ameritrade (AMTD) and E-Trade (ETFC) as making strategic and financial sense. With TD Ameritrade's integration of recently acquired Scottrade progressing better than expectations, a merger scenario with E-Trade is "becoming more compelling," Bedell told investors. He updated his merger scenario model, raising his hypothetical merger scenario value of E-Trade from TD Ameritrade's perspective to $77 from $72, nearly a 30% premium to the current share price. Bedell raised his price target for TD Ameritrade to $77 from $72 and for E-Trade to $72 from $70. He kept Buy ratings on both stocks. GORDON HASKETT UPGRADES TARGET, DOWNGRADES WALMART: Gordon Haskett analyst Chuck Grom upgraded Target (TGT) to Accumulate from Hold and raised his price target on shares to $86 from 74 to reflect the recent acceleration in traffic. Grom said geolocation data and proprietary card data support his Q2 4.5% comp growth estimate. Grom also downgraded Walmart (WMT) to Hold from Accumulate and lowered its price target to $92 from $98. Grom thinks there are few near-term catalysts on the horizon and said the margin outlook is not as transparent following a period of improvement and stabilization. He expects Walmart shares to be range bound for the balance of the year.
07/25/18
07/25/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Spotify (SPOT) downgraded to Hold from Buy at Pivotal Research with analyst Jeffrey Wlodarczak citing valuation. 2. Eli Lilly (LLY) downgraded to Hold from Buy at Berenberg with analyst Laura Sutcliffe saying the company reported "very good" Q2 results and its sales growth is built on the "solid proposition" of Trulicity, but the company is in the process of re-stocking its late-stage pipeline both internally and via deals. 3. Walmart (WMT) downgraded to Hold from Accumulate at Gordon Haskett with analyst Chuck Grom saying he thinks there are few near-term catalysts on the horizon and the margin outlook is not as transparent following a period of improvement and stabilization, and expects shares to be range bound for the balance of the year. 4. Hormel Foods (HRL) downgraded to Underperform from Neutral at Mizuho with analyst Jeremy Scott saying "volatile and retreating" pork margins bring rising risks to Hormel's earnings. 5. BJ's Wholesale (BJ) downgraded to Accumulate from Buy at Gordon Haskett with analyst Chuck Grom citing share strength following the IPO. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/25/18
MSCO
07/25/18
NO CHANGE
Target $190
MSCO
Overweight
Apple Music threat to Spotify 'manageable,' says Morgan Stanley
Morgan Stanley analyst Benjamin Swinburne notes that streaming adoption is accelerating and he believes rising smartphone penetration, increased wireless network capacity, smart speaker adoption and connected cars can support a market with multiple "winners." Additionally, Android's global lead over iOS suggests the threat to Spotify (SPOT), the global leader in music streaming, from Apple Music (AAPL) is "manageable," Swinburne tells investors. He maintains an Overweight rating and $190 price target on Spotify shares, though he sees a "bull case" for the stock reaching $300 per share.
07/25/18
DBAB
07/25/18
NO CHANGE
Target $170
DBAB
Hold
Spotify price target raised to $170 from $155 at Deutsche Bank
Deutsche Bank analyst Lloyd Walmsley raised his price target for Spotify to $170 ahead of the company's Q2 results and keeps a Hold rating on the shares. The analyst expects "solid" near-term results from Spotify as the company benefits from some new country launches and enhancements to its free trial. He also sees the company's gross margins continuing to benefit from improvement in ad monetization and the benefit from the latest major label deals.

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Paysign

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MEOH

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SHIP

Seanergy Marine

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-0.0425 (-6.25%)

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SONM

Sonim

$13.42

0.24 (1.82%)

16:41
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KINS

Kingstone Companies

$8.81

0.09 (1.03%)

16:30
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Options
Preliminary option volume of 22.6M today »

Preliminary option volume…

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