Spotify (SPOT) Research Coverage Started at Pivotal Research

Pivotal Research assumed coverage on shares of Spotify (NASDAQ:SPOT) in a research report report published on Tuesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $200.00 target price on the stock.

A number of other equities research analysts also recently commented on the company. Royal Bank of Canada assumed coverage on Spotify in a report on Thursday, March 29th. They set an outperform rating and a $220.00 target price for the company. Guggenheim assumed coverage on Spotify in a report on Tuesday, April 3rd. They issued a buy rating and a $175.00 price target for the company. Bank of America assumed coverage on Spotify in a report on Monday, April 30th. They issued a buy rating and a $195.00 price target for the company. Gabelli assumed coverage on Spotify in a report on Tuesday, April 3rd. They issued a hold rating and a $130.00 price target for the company. Finally, MKM Partners assumed coverage on Spotify in a report on Thursday, March 29th. They issued a buy rating and a $200.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $180.32.

Spotify opened at $157.71 on Tuesday, MarketBeat.com reports. Spotify has a 52 week low of $135.51 and a 52 week high of $171.23.

Spotify (NASDAQ:SPOT) last released its earnings results on Wednesday, May 2nd. The company reported ($1.01) EPS for the quarter, missing the Zacks’ 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. Spotify’s quarterly revenue 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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