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Spotify Stock Jumps on Subscriber Record. Why It Got a Downgrade After Earnings

Spotify stock rose early Wednesday after the audio streaming platform posted quarterly earnings and gave an upbeat outlook for subscriber and user growth.But one analyst downgraded the stock. PhillipCapital analyst Jonathan Woo changed his recommendation from Buy to Accumulate, indicating that perhaps investors should go a little easy on the Spotify, which is up 141% over the past 12 months.An Accumulate rating is still a form of a buy recommendation. Woo cited the recent price gains as a reason for the downgrade and still increased his price target by 15% to $485.Other analysts followed suit increasing their price targets after the earnings report. Evercore hiked its price target by 9% to $500, KeyBanc by 6% to $520, and Benchmark by 18% to $520.Spotify shares rose 7.2% to $449.74 in premarket trading Wednesday. The stock has more than doubled in value so far this year.Third-quarter earnings came in at 1.45 euros a share on revenue of 4 billion euros. While that was lower than the 1.

Spotify Stock Jumps on Subscriber Record. Why It Got a Downgrade After Earnings

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Why It Got a Downgrade After Earnings","url":"https://stock-news.laohu8.com/highlight/detail?id=2483004844","media":"Dow Jones","summary":"Spotify stock rose early Wednesday after the audio streaming platform posted quarterly earnings and gave an upbeat outlook for subscriber and user growth.But one analyst downgraded the stock. PhillipCapital analyst Jonathan Woo changed his recommendation from Buy to Accumulate, indicating that perhaps investors should go a little easy on the Spotify, which is up 141% over the past 12 months.An Accumulate rating is still a form of a buy recommendation. Woo cited the recent price gains as a reason for the downgrade and still increased his price target by 15% to $485.Other analysts followed suit increasing their price targets after the earnings report. Evercore hiked its price target by 9% to $500, KeyBanc by 6% to $520, and Benchmark by 18% to $520.Spotify shares rose 7.2% to $449.74 in premarket trading Wednesday. The stock has more than doubled in value so far this year.Third-quarter earnings came in at 1.45 euros  a share on revenue of 4 billion euros. While that was lower than the 1.","content":"<html><head></head><body><p> <a href=\"https://laohu8.com/S/SPOT\">Spotify Technology S.A.</a>  stock rose early Wednesday after the audio streaming platform posted quarterly earnings and gave an upbeat outlook for subscriber and user growth.</p><p>Spotify shares rose 8% in premarket trading Wednesday. The stock has more than doubled in value so far this year.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/1bdcc03e747c4861f473072e178224fa\" tg-width=\"421\" tg-height=\"399\"/></p><p>But one analyst downgraded the stock. PhillipCapital analyst Jonathan Woo changed his recommendation from Buy to Accumulate, indicating that perhaps investors should go a little easy on the Spotify, which is up 141% over the past 12 months.</p><p>An Accumulate rating is still a form of a buy recommendation. Woo cited the recent price gains as a reason for the downgrade and still increased his price target by 15% to $485.</p><p>Other analysts followed suit increasing their price targets after the earnings report. Evercore hiked its price target by 9% to $500, KeyBanc by 6% to $520, and Benchmark by 18% to $520.</p><p>Third-quarter earnings came in at 1.45 euros ($1.54) a share on revenue of 4 billion euros. While that was lower than the 1.69 euros a share on revenue of 4.03 billion euros predicted by analysts polled by FactSet, the strong fourth-quarter outlook appeared to make up for it.</p><p>Monthly active users (MAU) in the quarter were 640 million and premium subscribers amounted to 252 million, up by double-digits from last year and above the company&#39;s own guidance.</p><p>Spotify has forecast fourth-quarter profit above Wall Street estimates, and now sees total MAU at 665 million and premium subscribers climbing to 260 million.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Spotify Stock Jumps on Subscriber Record. 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Why It Got a Downgrade After Earnings\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-11-13 20:50</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p> <a href=\"https://laohu8.com/S/SPOT\">Spotify Technology S.A.</a>  stock rose early Wednesday after the audio streaming platform posted quarterly earnings and gave an upbeat outlook for subscriber and user growth.</p><p>Spotify shares rose 8% in premarket trading Wednesday. The stock has more than doubled in value so far this year.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/1bdcc03e747c4861f473072e178224fa\" tg-width=\"421\" tg-height=\"399\"/></p><p>But one analyst downgraded the stock. PhillipCapital analyst Jonathan Woo changed his recommendation from Buy to Accumulate, indicating that perhaps investors should go a little easy on the Spotify, which is up 141% over the past 12 months.</p><p>An Accumulate rating is still a form of a buy recommendation. Woo cited the recent price gains as a reason for the downgrade and still increased his price target by 15% to $485.</p><p>Other analysts followed suit increasing their price targets after the earnings report. Evercore hiked its price target by 9% to $500, KeyBanc by 6% to $520, and Benchmark by 18% to $520.</p><p>Third-quarter earnings came in at 1.45 euros ($1.54) a share on revenue of 4 billion euros. While that was lower than the 1.69 euros a share on revenue of 4.03 billion euros predicted by analysts polled by FactSet, the strong fourth-quarter outlook appeared to make up for it.</p><p>Monthly active users (MAU) in the quarter were 640 million and premium subscribers amounted to 252 million, up by double-digits from last year and above the company&#39;s own guidance.</p><p>Spotify has forecast fourth-quarter profit above Wall Street estimates, and now sees total MAU at 665 million and premium subscribers climbing to 260 million.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPOT":"Spotify Technology S.A."},"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2483004844","content_text":"Spotify Technology S.A.  stock rose early Wednesday after the audio streaming platform posted quarterly earnings and gave an upbeat outlook for subscriber and user growth.Spotify shares rose 8% in premarket trading Wednesday. The stock has more than doubled in value so far this year.But one analyst downgraded the stock. PhillipCapital analyst Jonathan Woo changed his recommendation from Buy to Accumulate, indicating that perhaps investors should go a little easy on the Spotify, which is up 141% over the past 12 months.An Accumulate rating is still a form of a buy recommendation. Woo cited the recent price gains as a reason for the downgrade and still increased his price target by 15% to $485.Other analysts followed suit increasing their price targets after the earnings report. Evercore hiked its price target by 9% to $500, KeyBanc by 6% to $520, and Benchmark by 18% to $520.Third-quarter earnings came in at 1.45 euros ($1.54) a share on revenue of 4 billion euros. While that was lower than the 1.69 euros a share on revenue of 4.03 billion euros predicted by analysts polled by FactSet, the strong fourth-quarter outlook appeared to make up for it.Monthly active users (MAU) in the quarter were 640 million and premium subscribers amounted to 252 million, up by double-digits from last year and above the company's own guidance.Spotify has forecast fourth-quarter profit above Wall Street estimates, and now sees total MAU at 665 million and premium subscribers climbing to 260 million.","news_type":1},"isVote":1,"tweetType":1,"viewCount":8,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":35,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}