Spotify Slashed to Neutral Ahead of Q3 Earnings 
<p>Monness Crespi Hardt analysts downgraded <a href='https://financialmodelingprep.com/financial-summary/SPOT'>Spotify (NYSE:SPOT)</a> from Buy to Neutral. The analysts explained that Spotify's stock has seen significant growth this year, with a 95% increase. Given this substantial outperformance and growing concerns about potential market challenges, the analysts chose to step back from their Buy rating on Spotify. </p>
<p>The analysts mentioned that Spotify is set to release its third-quarter results on Oct 24, and although the company is well-positioned for long-term success with platform enhancements, expansion into the digital advertising market, audio innovations, and cost improvements, it faces stiff competition and operates with slim profit margins. Consequently, the firm believes that Spotify could be entering a more challenging phase.</p>

NYSE:SPOT