Monness analyst Brian White maintained a Buy rating on Spotify Technology SA (SPOT) today and set a price target of $200.00. The company’s shares closed last Monday at $144.34.
According to TipRanks.com, White is a top 100 analyst with an average return of 24.4% and a 73.1% success rate. White covers the Technology sector, focusing on stocks such as Slack Technologies, Salesforce, and Pinterest.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Spotify Technology SA with a $162.63 average price target, a 13.6% upside from current levels. In a report issued on January 17, UBS also maintained a Buy rating on the stock with a $180.00 price target.
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Based on Spotify Technology SA’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $268 million. In comparison, last year the company had a net profit of $504 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 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.
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