Spending drive knocks Spotify shares after Q1 beat

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Go back to Spending drive knocks Spotify shares after Q1 beat

Spotify (SPOT) PT Lowered to $150 at Monness, Crespi, Hardt

April 27, 2022 1:35 PM EDT

Monness, Crespi, Hardt analyst Brian White lowered the price target on Spotify (NYSE: SPOT) to $150.00 (from $240.00) while maintaining a Buy rating.

The analyst commented, "Spotify reported solid 1Q:22 results and issued a healthy 2Q:22 revenue outlook; however, increased investment plans dampened... More