Loop Capital began coverage on shares of Spotify (NASDAQ:SPOT) in a research report released on Tuesday morning, MarketBeat Ratings reports. The firm issued a sell rating and a $120.00 target price on the stock.
Several other analysts have also recently issued reports on the company. Cascend Securities assumed coverage on Spotify in a research note on Monday. They issued a buy rating and a $185.00 target price on the stock. Royal Bank of Canada cut their target price on Spotify to $210.00 and set an average rating on the stock in a research note on Thursday, May 3rd. SunTrust Banks assumed coverage on Spotify in a research note on Wednesday, May 2nd. They issued a buy rating and a $200.00 target price on the stock. Buckingham Research assumed coverage on Spotify in a research note on Monday, April 30th. They issued a neutral rating and a $175.00 target price on the stock. Finally, Bank of America assumed coverage on Spotify in a research note on Monday, April 30th. They issued a buy rating and a $195.00 target price on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Spotify has an average rating of Buy and a consensus target price of $179.22.
Spotify opened at $159.41 on Tuesday, according to MarketBeat. Spotify has a 1 year low of $158.08 and a 1 year high of $160.85.
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.
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