Spotify (SPOT) Now Covered by Analysts at Macquarie

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Macquarie began coverage on shares of Spotify (NASDAQ:SPOT) in a research note issued to investors on Thursday. The firm issued an outperform rating and a $225.00 target price on the stock.

Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. assumed coverage on Spotify in a research report on Monday, April 30th. They set an overweight rating and a $190.00 target price on the stock. UBS Group assumed coverage on Spotify in a report on Monday, April 30th. They issued a buy rating on the stock. Guggenheim assumed coverage on Spotify in a report on Tuesday, April 3rd. They issued a buy rating and a $175.00 price objective on the stock. Loop Capital assumed coverage on Spotify in a report on Tuesday, May 15th. They issued a sell rating and a $120.00 price objective on the stock. Finally, Wells Fargo & Co assumed coverage on Spotify in a report on Wednesday, May 16th. They issued a market perform rating and a $150.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $182.19.

NASDAQ SPOT traded up $0.27 during trading hours on Thursday, hitting $179.80. 11,342 shares of the company’s stock were exchanged, compared to its average volume of 2,787,462. Spotify has a 12-month low of $135.51 and a 12-month high of $182.18.

Spotify (NASDAQ:SPOT) last released its earnings results on Wednesday, May 2nd. The company reported ($1.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by ($0.68). The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.14 billion. The company’s quarterly revenue was down .9% compared to the same quarter last year.

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)

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