New Buy Rating for Spotify Technology SA (SPOT), the Technology Giant
In a report released today, Brian White from Monness maintained a Buy rating on Spotify Technology SA (SPOT), with a price target of $200.00. The company’s shares closed last Monday at $119.00.
According to TipRanks.com, White is a top 100 analyst with an average return of 22.2% and a 69.3% success rate. White covers the Technology sector, focusing on stocks such as Slack Technologies Inc, Salesforce.com, and Alphabet Inc.
Currently, the analyst consensus on Spotify Technology SA is a Moderate Buy with an average price target of $172.77.
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Spotify Technology SA’s market cap is currently $21B and has a P/E ratio of 70.15. The company has a Price to Book ratio of 7.78.
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Spotify Technology SA is a 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 an ad-supported, free-to-the-user model and a premium, paid model.