Rosenblatt Securities Believes Spotify Technology SA (SPOT) Still Has Room to Grow
Rosenblatt Securities analyst Mark Zgutowicz reiterated a Buy rating on Spotify Technology SA (SPOT) today and set a price target of $190.00. The company’s shares closed last Wednesday at $155.78, close to its 52-week high of $163.95.
According to TipRanks.com, Zgutowicz is a 5-star analyst with an average return of 23.5% and a 65.2% success rate. Zgutowicz covers the Technology sector, focusing on stocks such as Criteo SA, Pinterest, and Facebook.
Currently, the analyst consensus on Spotify Technology SA is a Moderate Buy with an average price target of $160.88, representing a 5.2% upside. In a report issued on April 16, Barclays also maintained a Buy rating on the stock with a $160.00 price target.
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The company has a one-year high of $163.95 and a one-year low of $109.18. Currently, Spotify Technology SA has an average volume of 1.66M.
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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.