tiprankstipranks
TipRanksStock Market NewsMRVL NewsAnalysts Offer Insights on Technology Companies: Marvell (MRVL) and Spotify Technology SA (SPOT)
Blurbs

Analysts Offer Insights on Technology Companies: Marvell (MRVL) and Spotify Technology SA (SPOT)

Companies in the Technology sector have received a lot of coverage today as analysts weigh in on Marvell (MRVLResearch Report) and Spotify Technology SA (SPOTResearch Report).

Marvell (MRVL)

Deutsche Bank analyst Ross Seymore reiterated a Buy rating on Marvell on June 14 and set a price target of $75.00. The company’s shares closed last Wednesday at $49.20, close to its 52-week low of $47.62.

According to TipRanks.com, Seymore is a top 25 analyst with an average return of 24.0% and a 73.6% success rate. Seymore covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Navitas Semiconductor, and GlobalFoundries Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Marvell with a $84.44 average price target, a 73.4% upside from current levels. In a report issued on June 6, J.P. Morgan also reiterated a Buy rating on the stock with a $100.00 price target.

See the top stocks recommended by analysts >>

Spotify Technology SA (SPOT)

Deutsche Bank analyst Benjamin Black CFA maintained a Hold rating on Spotify Technology SA on June 13 and set a price target of $115.00. The company’s shares closed last Wednesday at $105.35, close to its 52-week low of $89.03.

According to TipRanks.com, CFA is a 1-star analyst with an average return of -8.1% and a 31.9% success rate. CFA covers the Technology sector, focusing on stocks such as Alphabet Class A, Alphabet Class C, and Meta Platforms.

Spotify Technology SA has an analyst consensus of Moderate Buy, with a price target consensus of $151.52, implying a 46.1% upside from current levels. In a report released yesterday, Wells Fargo also upgraded the stock to Hold with a $124.00 price target.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Read More on MRVL:

Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More