Rosenblatt Securities analyst Barton Crockett maintained a Hold rating on Spotify Technology SA (SPOT – Research Report) today and set a price target of $118.00. The company’s shares closed last Wednesday at $116.61, close to its 52-week low of $89.03.
According to TipRanks.com, Crockett is a 4-star analyst with an average return of 4.1% and a 52.0% success rate. Crockett covers the Services sector, focusing on stocks such as Liberty Media Liberty Formula One, Lions Gate Entertainment Class B, and Live Nation Entertainment.
Currently, the analyst consensus on Spotify Technology SA is a Moderate Buy with an average price target of $141.95, a 20.3% upside from current levels. In a report released yesterday, Deutsche Bank also maintained a Hold rating on the stock with a $115.00 price target.
The company has a one-year high of $305.60 and a one-year low of $89.03. Currently, Spotify Technology SA has an average volume of 2.37M.
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Founded in 2006, Luxembourg-based Spotify Technology SA is the world’s most popular audio streaming subscription service. It serves a community of over 320 million users across 92 markets. The company generates revenue from Premium and Ad-Supported segments. The Premium segment provides subscribers with unlimited online and offline high-quality streaming access to music and podcasts. It also offers a music listening experience without commercial breaks. The Ad-Supported segment provides on-demand online access to its catalog of music and unlimited online access to the catalog of podcasts to its subscribers with no subscription fees. The company also provides sales, marketing, contract research and development, and customer support services.
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