Consumer Edge initiated coverage on shares of Spotify Technology (NYSE:SPOT) in a research note released on Tuesday, Stock Target Advisor reports. The firm issued an equal weight rating on the stock.
Several other analysts have also issued reports on the stock. Morgan Stanley increased their price target on shares of Spotify Technology from $170.00 to $180.00 and gave the stock an overweight rating in a research report on Thursday, August 1st. Evercore ISI lowered shares of Spotify Technology from an in-line rating to an underperform rating in a research report on Monday, June 24th. Raymond James increased their price target on shares of Spotify Technology from $172.00 to $180.00 and gave the stock a strong-buy rating in a research report on Thursday, July 25th. Royal Bank of Canada reiterated a buy rating and set a $185.00 price target on shares of Spotify Technology in a research report on Wednesday, July 31st. Finally, SunTrust Banks increased their price objective on shares of Spotify Technology to $172.00 and gave the company a buy rating in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $170.25.
NYSE SPOT opened at $140.95 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market cap of $27.15 billion, a price-to-earnings ratio of -234.92 and a beta of 1.85. The stock’s 50 day moving average price is $150.35. Spotify Technology has a 1 year low of $103.29 and a 1 year high of $196.95.
About Spotify Technology
Spotify Technology SA, together with its subsidiaries, provides music streaming services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers commercial-free music services to subscribers comprising unlimited online and offline high-quality streaming access to its catalog.
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