PREVIEW: Spotify hits record high ahead of qtrly results
** Shares of Spotify Technology SPOT.N up 1.0%, hits a record high ahead of qtrly results after the bell, with investors focused on user growth and the music streamer's valuation
** Stock last at $413.62 after climbing to $418.01 earlier in the session
** Co likely to report sluggish qtrly user growth, Monness Crespi Hardt analyst Brian White wrote in a preview on Mon
** "Given the slower growth rate that Spotify is experiencing in Premium Subscribers, we expect the company to expand its price-hiking campaign across more countries in the coming quarters," White wrote
** Alphabet's GOOGL.O Google Cloud in October said SPOT adopted its new low-powered Axion chip to power streaming services, aiming for improved energy efficiency and performance
** SPOT's stock up ~120% YTD, significantly outperforming the S&P 500's .SPX 25% rise
** Stock now valued at 47x expected earnings, per LSEG
** Analysts on avg expect qtrly rev up 19.8% to $4.02 bln and adjusted EPS of $1.72 vs $0.33 yr-ago, per LSEG
Reporting by Noel Randewich
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