Spotify (NASDAQ:SPOT) Coverage Initiated by Analysts at Macquarie

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Macquarie initiated coverage on shares of Spotify (NASDAQ:SPOT) in a report released on Thursday, June 21st. The firm issued an outperform rating and a $225.00 target price on the stock.

Other equities analysts have also recently issued reports about the company. JPMorgan Chase & Co. initiated coverage on Spotify in a report on Monday, April 30th. They set an overweight rating and a $190.00 price target for the company. UBS Group initiated coverage on Spotify in a report on Monday, April 30th. They set a buy rating for the company. Guggenheim assumed coverage on Spotify in a report on Tuesday, April 3rd. They set a buy rating and a $175.00 target price for the company. Loop Capital initiated coverage on Spotify in a research note on Tuesday, May 15th. They issued a sell rating and a $120.00 price objective for the company. Finally, Wells Fargo & Co initiated coverage on Spotify in a research report on Wednesday, May 16th. They set a market perform rating and a $150.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Spotify presently has an average rating of Buy and a consensus target price of $183.45.

Spotify traded up $0.54, reaching $168.24, during trading hours on Thursday, according to MarketBeat.com. The stock had a trading volume of 862,208 shares, compared to its average volume of 2,683,905. Spotify has a 52-week low of $135.51 and a 52-week high of $182.45.

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

About Spotify

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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