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Spotify:Quarterly Results/2023 Q3: Difference between revisions
Spotify:Quarterly Results/2023 Q3 (view source)
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* The firm cited positive setup for Spotify’s Q3 earnings results and Q4 margin guidance. | * The firm cited positive setup for Spotify’s Q3 earnings results and Q4 margin guidance. | ||
* It also said that the expected new deals updates and changing royalties are seen as favorable | * It also said that the expected new deals updates and changing royalties are seen as favorable | ||
=== TD Cowen === | |||
* TD Cowen initiated coverage of Spotify with a price target of 129 euros and neutral rating. | |||
* TD Cowen expects the company to continue delivering double-digit revenue growth rate and margin growth over time, but this is already factored in its current stock valuations. | |||
* The company added that Spotify remains in a “somewhat challenging competitive situation” brought by the likes of Apple, Google and Amason. | |||
=== Benchmark === | |||
* Benchmark lowered Spotify’s price target from $205.00 to $195.00 but maintained its buy rating. | |||
* Analyst Mark Zgutowicz does not expect any surprises in gross margins for Q3 or Q4 compared to consensus estimates. | |||
* He stated that his conversations with investors in recent weeks established that gross margins is the most important issue. | |||
== Spotify Google Play Downloads == | == Spotify Google Play Downloads == | ||