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Coinbase Falls, Spotify Climbs, Datadog Gains on Positive Earnings
Description
On this episode of Stock Movers:
- Coinbase (COIN) shares fall after JPMorgan cut its price target on the exchange by 27%, citing lower crypto prices and trading volumes. Analyst Kenneth Worthington sees the current crypto operating environment as less constructive.
- Spotify (SPOT) shares climb after the Swedish music streaming giant added a record number of users last quarter, far surpassing Wall Street analyst expectations. The world’s biggest streaming service added 38 million users from October through December to reach 751 million, according to a statement Tuesday. That beat the average analyst forecast for 745.2 million.
- Datadog (DDOG) shares gain after the software company’s fourth-quarter results beat expectations on key metrics. However it also gave a full-year forecast that was weaker than expected.
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