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SPOT

Spotify

$144.12

-5.99 (-3.99%)

16:34
06/25/19
06/25
16:34
06/25/19
16:34

Spotify chief revenue officer Brian Benedik to depart, The Information reports

Spotify's chief revenue officer Brian Benedik will depart the company in September, Jessica Toonkel of The Information reported, citing people familiar with the matter. Benedik's departure is the latest in a list of executives to depart since the company's IPO. Since last year, Spotify's chief marketing officer, head of music and culture, head of global business development and global head of publishing have all left the company. Reference Link

SPOT Spotify
$144.12

-5.99 (-3.99%)

04/26/19
MSCO
04/26/19
NO CHANGE
MSCO
Overweight
Spotify should be long-term winner as streaming music grows, says Morgan Stanley
Morgan Stanley analyst Benjamin Swinburne said that competition concerns and perceived label tensions have recently weighed on Spotify (SPOT) shares, but he reiterates his Overweight rating and $170 price target on the stock ahead of the company's upcoming Q1 report on Monday. He continues to see a significant runway for growth at Spotify given its leadership position in Android, the largest mobile ecosystem globally, as well as its higher engagement level relative to competitors such as Amazon Music (AMZN), the analyst tells investors. Streaming now accounts for 47% of global music industry revenue, per IFPI, and should surpass 50% of music industry revenues in 2019, noted Swinburne.
06/24/19
EVER
06/24/19
DOWNGRADE
EVER
Underperform
Spotify downgraded to Underperform from In Line at Evercore ISI
06/24/19
EVER
06/24/19
DOWNGRADE
Target $110
EVER
Underperform
Spotify downgraded to Underperform at Evercore ISI
As previously reported, Evercore ISI analyst Kevin Rippey downgraded Spotify to Underperform from In Line and lowered his price target on the shares to $110 from $125, stating that the recent rally in the stock "reflects an overly optimistic view" on the company's gross margin path and potential label negotiation outcomes. He does not see a way for Spotify to generate the gross profits "demanded by Street estimates" in the medium-term, Rippey tells investors. The risk "is real" that publisher rates go higher per the existing Copyright Royalty Board ruling and SensorTower data shows that competition at the country level is far more intense than suggested by global aggregates, the analyst said.
06/24/19
06/24/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Sonoco (SON) downgraded to Sell from Neutral at Goldman Sachs with analyst Brian Maguire citing valuation. 2. Occidental Petroleum (OXY) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Devin McDermott saying he believes covering the 2020 dividend at current oil prices will require meaningful capital expenditure cuts, even though the Anadarko (APC) deal looks accretive to cash flow. 3. International Paper (IP) downgraded to Equal Weight from Overweight at Stephens with analyst Mark Connelly saying RISI decided to cut the price of containerboard $10 "just three days after investors breathed a sigh of relief on encouraging supply-demand fundamentals." 4. Shopify (SHOP) downgraded to Neutral from Buy at Roth Capital with analyst Darren Aftahi saying he remains positive on its underlying business prospects following the company's Unite conference and investor day but not on the stock's valuation, which has increased in the wake of the event. 5. Spotify (SPOT) downgraded to Underperform from In Line at Evercore ISI with analyst Kevin Rippey saying the recent rally in the stock "reflects an overly optimistic view" on the company's gross margin path and potential label negotiation outcomes. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

MSFT

Microsoft

$136.29

0.06 (0.04%)

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AA

Alcoa

$23.42

0.27 (1.17%)

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PIR

Pier 1 Imports

$3.89

-0.76 (-16.34%)

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GNTX

Gentex

$23.54

0.01 (0.04%)

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Earnings
Gentex narrows FY19 revenue guidance $1.87B-$1.9B from $1.83B-$1.93B 

Consensus $1.87B.

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CMG

Chipotle

$764.23

11.92 (1.58%)

08:03
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GNTX

Gentex

$23.54

0.01 (0.04%)

08:03
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Earnings
Gentex reports Q2 EPS 42c, consensus 40c »

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HQY

HealthEquity

$76.39

0.96 (1.27%)

, WAGE

WageWorks

$50.79

-0.01 (-0.02%)

08:02
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HQY

HealthEquity

$76.39

0.96 (1.27%)

WAGE

WageWorks

$50.79

-0.01 (-0.02%)

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SYF

Synchrony

$36.09

0.54 (1.52%)

, PYPL

PayPal

$119.87

1.07 (0.90%)

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Synchrony (SYF) says it…

SYF

Synchrony

$36.09

0.54 (1.52%)

PYPL

PayPal

$119.87

1.07 (0.90%)

WMT

Walmart

$114.68

0.08 (0.07%)

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NFLX

Netflix

$325.14

-37.36 (-10.31%)

08:00
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07/19
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Options
Netflix call buyer realizes 3% same-day gains »

Notable profits for the…

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  • 03

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SKX

Skechers

$34.75

0.35 (1.02%)

07:59
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STT

State Street

$56.27

1.67 (3.06%)

07:55
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State Street boosts productivity savings for FY19 to 4.5% from 4% »

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WNS

WNS Holdings

$62.34

3.8 (6.49%)

07:53
07/19/19
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07:53
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WNS Holdings analyst commentary  »

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  • 12

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MSFT

Microsoft

$136.29

0.06 (0.04%)

07:52
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Microsoft analyst commentary  »

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CRWD

Crowdstrike

$72.75

1.77 (2.49%)

07:51
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WW

WW

$25.18

1.23 (5.14%)

07:49
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MSFT

Microsoft

$136.29

0.06 (0.04%)

07:49
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Microsoft analyst commentary  »

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DOW

Dow Inc.

$51.76

0.15 (0.29%)

07:48
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NGVT

Ingevity

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  • 25

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INDB

Independent Bank

$73.31

0.56 (0.77%)

07:44
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  • 19

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KBR

KBR

$25.28

0.36 (1.44%)

07:43
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MDR

McDermott

$10.20

-0.25 (-2.39%)

07:41
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  • 29

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ADTN

Adtran

$12.12

-3.72 (-23.48%)

, DTE

DTE Energy

$131.39

1.27 (0.98%)

07:41
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Adtran price target…

ADTN

Adtran

$12.12

-3.72 (-23.48%)

DTE

DTE Energy

$131.39

1.27 (0.98%)

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AXS

Axis Capital

, ACGL

Arch Capital

$38.24

0.12 (0.31%)

07:41
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Buckingham upgrades Axis…

AXS

Axis Capital

ACGL

Arch Capital

$38.24

0.12 (0.31%)

TRV

Travelers

$152.69

0.27 (0.18%)

HIG

Hartford Financial

$57.90

0.24 (0.42%)

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07:40
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General news
Treasury Market Outlook: Treasuries are a little weaker »

Treasury Market Outlook:…

WNS

WNS Holdings

$62.34

3.8 (6.49%)

07:39
07/19/19
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