SOCL

Spotify Stock Sheds All Gains After Q1 Earnings, But Analysts Are Impressed With the Performance

Spotify reported fiscal first-quarter 2024 revenue of $3.95 billion, up 20% year-on-year. Spotify is the largest pure-play audio streaming service. J.P. Morgan maintained Spotify with an Overweight and raised the price target from $320 to $365.

Music Giant Spotify's Q1 Surprise: Investors Cheer Premium Subscriber Growth And Profit Bump

Spotify reported fiscal first-quarter 2024 revenue growth of 20% year-on-year to €3.64 billion. Total MAUs (Monthly Active Users) rose 19% Y/Y to 615 million. The company missed its guidance by 3 million.

Weekly Report: what happened at SOCL last week (0415-0419)?

TikTok's Ticking Clock: Meta, Snap Stocks Climb As US Ban Bill Vote Nears

A high-profile bill that aims to dismantle TikTok's U.S. Operations is affecting social media stocks. The bill was approved by the House of Representatives last month and is expected to be voted on this weekend. Snap Inc and other companies with overlap with TikTok are up on the news.

Weekly Report: what happened at SOCL last week (0408-0412)?

Spotify's Q1 Outlook: Analyst Anticipates Surge in Subscriber Base and Revenue Per User

Keybanc analyst Justin Patterson maintained Spotify Technology SA (NYSE:SPOT) with an Overweight rating and raised the price target from $300 to $350. Spotify will report its first-quarter fiscal 2024 results before the market opens on April 23. Spotify stock gained 130% in the last 12 months.

Tailwinds In Tech

William Blair: We are in a new demand cycle for tech hardware. Smartphones and PCs are still the largest end-markets, but their outlook is improving. AI presents a second avenue of growth for many of these Taiwanese companies, says Hiraman. The past year’s gains in Taiwan tech were primarily driven by increases in stock valuations.

Weekly Report: what happened at SOCL last week (0401-0405)?