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StoneX Downgrades Spotify Rating: Profitability Pressure and Rising Label Costs

Investing.com ·

SPOT Spotify Technology SA
$533.37 +1.80%
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  1. 1StoneX analyst Mark Zugotovich downgraded Spotify's investment rating from buy to hold.
  2. 2StoneX's Q3 revenue estimate of 4.98 billion euros is below StoneX's Q3 guideline of approximately 5 billion euros.
  3. 3StoneX adjusted the Q4 premium gross margin forecast to 35.4% by applying a 40bp cut.

So what's the key point?

StoneX changed its opinion on Spotify from buy to hold. The expected Q3 revenue of 4.98 billion euros is lower than the guideline.

Source Investing.com · View original ↗

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