Raymond James Remains a Hold on Spotify Technology SA (SPOT)

In a report released yesterday, Andrew Marok from Raymond James reiterated a Hold rating on Spotify Technology SA (SPOT). The company’s shares closed last Tuesday at $336.31.

According to TipRanks.com, Marok is a 4-star analyst with an average return of 28.7% and a 93.8% success rate. Marok covers the Consumer Goods sector, focusing on stocks such as Activision Blizzard, Electronic Arts, and Take-Two.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Spotify Technology SA with a $345.20 average price target, representing a 3.8% upside. In a report issued on February 9, Pivotal Research also maintained a Hold rating on the stock with a $340.00 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 revenue of $2.17 billion and GAAP net loss of $125 million. In comparison, last year the company earned revenue of $1.86 billion and had a GAAP net loss of $209 million.

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Spotify Technology SA is a digital music service offering music fans instant access to a world of music. The company operates through the following segments: Premium and Ad-Supported. The Premium segment provides subscribers with unlimited online and offline high-quality streaming access of music and podcasts on computers, tablets, and mobile devices, users can connect through speakers, receivers, televisions, cars, game consoles, and smart watches. It also offers a music listening experience without commercial breaks. The Ad-Supported segment provides users with limited on-demand online access of music and unlimited online access of podcasts on their computers, tablets, and compatible mobile devices. It also serves both premium subscriber acquisition channel and a robust option for users who are unable or unwilling to pay a monthly subscription fee but still want to enjoy access to a wide variety of high-quality audio content. The company was founded by Daniel Ek and Martin Lorentzon in April, 2006 and is headquartered in Luxembourg.

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