Spotify (NASDAQ:SPOT) Coverage Initiated by Analysts at Buckingham Research

Buckingham Research started coverage on shares of Spotify (NASDAQ:SPOT) in a research report sent to investors on Monday, April 30th, Marketbeat.com reports. The brokerage issued a neutral rating and a $175.00 price objective on the stock.

Other analysts also recently issued research reports about the stock. JPMorgan Chase began coverage on shares of Spotify in a research report on Monday, April 30th. They set an overweight rating and a $190.00 price objective for the company. Guggenheim began coverage on shares of Spotify in a research report on Tuesday, April 3rd. They set a buy rating and a $175.00 price objective for the company. UBS began coverage on shares of Spotify in a research report on Monday, April 30th. They set a buy rating for the company. Evercore ISI began coverage on shares of Spotify in a research report on Monday, April 30th. They set an outperform rating and a $190.00 price objective for the company. Finally, B. Riley began coverage on shares of Spotify in a research report on Wednesday, April 25th. They issued a neutral rating and a $156.00 price target for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $178.59.

Shares of SPOT stock traded up $2.68 during trading hours on Monday, hitting $161.39. 2,075,953 shares of the company were exchanged, compared to its average volume of 3,368,461. Spotify has a fifty-two week low of $158.08 and a fifty-two week high of $160.85.

Spotify (NASDAQ:SPOT) last announced its quarterly earnings data on Wednesday, May 2nd. The company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.68). The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.14 billion. Spotify’s quarterly revenue was down .9% on a year-over-year basis.

Spotify Company Profile

Spotify Technology SA is an innovative digital music service offering music fans instant access to a world of music. The company enables on-demand streaming of audio content and aim to combat music piracy by offering a user experience, while monetizing licensed content with both an ad-supported, free-to-the-user model and a premium, paid model.

Analyst Recommendations for Spotify (NASDAQ:SPOT)

Receive News & Ratings for Spotify Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spotify and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply