In a report issued on February 5, Mark Zgutowicz from Rosenblatt Securities maintained a Buy rating on Spotify Technology SA (SPOT), with a price target of $171. The company’s shares closed on Friday at $134.71.
Zgutowicz said:
“We continue to believe SPOT’s modest share of OUS and yet dominant global brand remains grossly under-appreciated in the shares.”
Zgutowicz has an average return of 1.6% when recommending Spotify Technology SA.
According to TipRanks.com, Zgutowicz is ranked #1420 out of 5140 analysts.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Spotify Technology SA with a $171 average price target, implying a 26.9% upside from current levels. In a report issued on February 4, Monness also maintained a Buy rating on the stock with a $200 price target.
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Based on Spotify Technology SA’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $504 million. In comparison, last year the company had a GAAP net loss of $702 million.
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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.
