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SPOT

Spotify

$342.22 /

-4.72 (-1.36%)

, NFLX

Netflix

$500.59 /

-7.16 (-1.41%)

06:39
01/15/21
01/15
06:39
01/15/21
06:39

Citi cuts Spotify to Sell with no benefit seen on podcast investments

Citi analyst Jason Bazinet downgraded Spotify Technology (SPOT) to Sell from Neutral with a $310 price target. Among the four subscription based stocks, Spotify, Roku (ROKU), Netflix (NFLX) and SiriusXM (SIRI), Spotify is the only company where the Street's long-terms forecasts "do not comport to the prevailing valuation," Bazinet tells investors in a research note. The analyst suspects "this disconnect stems from recent enthusiasm around Spotify's recent podcast pivot." However, its premium gross additions through Q3 and app download data through Q4 do not show any material benefit from recent podcast investments, says Bazinet. As such, the analyst downgrades Spotify to Sell.

SPOT

Spotify

$342.22 /

-4.72 (-1.36%)

NFLX

Netflix

$500.59 /

-7.16 (-1.41%)

ROKU

Roku

$418.60 /

+10.06 (+2.46%)

SIRI

Sirius XM

$5.83 /

-0.05 (-0.85%)

  • 19

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SPOT Spotify
$342.22 /

-4.72 (-1.36%)

01/15/21 Citi
Spotify downgraded to Sell from Neutral at Citi
01/04/21 Barclays
Spotify assumed with an Overweight at Barclays
12/30/20 Monness Crespi
Spotify price target raised to $380 from $310 at Monness Crespi
12/17/20 Morgan Stanley
Spotify price target raised to $350 from $300 at Morgan Stanley
NFLX Netflix
$500.59 /

-7.16 (-1.41%)

01/15/21 Piper Sandler
Netflix search index suggests in-line Q4 subscriber results, says Piper Sandler
01/14/21 Barclays
Netflix could add 90M Asia-Pacific subs in five years, says Barclays
01/14/21 Citi
Netflix price target raised to $580 from $450 at Citi
01/13/21 Canaccord
Netflix expected to report strong Q4 results, says Canaccord
ROKU Roku
$418.60 /

+10.06 (+2.46%)

01/15/21 MoffettNathanson
Roku price target raised to $365 from $180 at MoffettNathanson
01/12/21 Macquarie
Roku price target raised to $460 from $275 at Macquarie
01/11/21 Citi
Roku price target raised to $460 from $375 at Citi
01/07/21 Needham
Roku price target raised to $400 from $315 at Needham
SIRI Sirius XM
$5.83 /

-0.05 (-0.85%)

01/06/21 Barrington
Imax and Sirius XM among Barrington's best ideas for 2021
12/17/20 Morgan Stanley
Sirius XM price target raised to $7.50 from $6.75 at Morgan Stanley
12/17/20 Morgan Stanley
Liberty SiriusXM price target raised to $52 from $45 at Morgan Stanley
10/27/20
Fly Intel: Top five analyst upgrades

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