Gabelli assumed coverage on shares of Spotify (NASDAQ:SPOT) in a research note published on Tuesday morning, Marketbeat Ratings reports. The firm issued a hold rating and a $130.00 price objective on the stock.
SPOT has been the subject of several other research reports. Royal Bank of Canada began coverage on Spotify in a research note on Thursday, March 29th. They set an outperform rating and a $220.00 target price for the company. Atlantic Securities began coverage on Spotify in a research note on Wednesday, March 28th. They set an overweight rating for the company. MKM Partners began coverage on Spotify in a research note on Thursday, March 29th. They set a buy rating and a $200.00 target price for the company. Finally, Guggenheim began coverage on Spotify in a research note on Tuesday. They set a buy rating and a $175.00 target price for the company. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $184.17.
Shares of SPOT opened at $147.92 on Tuesday. Spotify has a 1 year low of $135.51 and a 1 year high of $169.00.
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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