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Fly News Breaks for February 3, 2020
SPOT
Feb 3, 2020 | 18:27 EDT
SunTrust analyst Matthew Thornton maintained a Buy rating and $172 price target on Spotify ahead of the company's Q4 results. Thornton said for the quarter his data work points to monthly active users being slightly ahead, while he is slightly above on subs, in-line on revenue and gross margin, and slightly below on EBIT. Looking to 2020, the analyst said that consensus MAU and sub expectations appear "very reasonable," while visibility into gross margin and EBIT is lower given the net of podcasts and the two-sided marketplace.
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