Stifel Nicolaus assumed coverage on shares of Spotify (NASDAQ:SPOT) in a research report sent to investors on Thursday morning, MarketBeat.com reports. The firm issued a buy rating and a $180.00 target price on the stock.
A number of other analysts have also issued reports on SPOT. MKM Partners initiated coverage on Spotify in a research note on Thursday, March 29th. They set a buy rating and a $200.00 price objective on the stock. Guggenheim initiated coverage on Spotify in a research note on Tuesday. They set a buy rating and a $175.00 price objective on the stock. Gabelli initiated coverage on Spotify in a research note on Tuesday. They set a hold rating and a $130.00 price objective on the stock. Royal Bank of Canada initiated coverage on Spotify in a research note on Thursday, March 29th. They set an outperform rating and a $220.00 price objective on the stock. Finally, Atlantic Securities initiated coverage on Spotify in a research note on Wednesday, March 28th. They set an overweight rating on the stock. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $184.17.
Shares of SPOT traded up $4.51 during mid-day trading on Thursday, hitting $148.50. The stock had a trading volume of 3,451,442 shares, compared to its average volume of 13,137,706. Spotify has a 52 week low of $135.51 and a 52 week high of $169.00.
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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.
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