Morgan Stanley Maintains Their Buy Rating on Spotify Technology SA (SPOT)

By Jason Carr

In a report released today, Benjamin Swinburne from Morgan Stanley maintained a Buy rating on Spotify Technology SA (SPOTResearch Report), with a price target of $170. The company’s shares closed yesterday at $123.93.

According to TipRanks.com, Swinburne is a 5-star analyst with an average return of 11.3% and a 59.5% success rate. Swinburne covers the Services sector, focusing on stocks such as Interpublic Group of Companies, Madison Square Garden Co, and Cinemark Holdings Inc.

Spotify Technology SA has an analyst consensus of Moderate Buy, with a price target consensus of $177.68, representing a 43.4% upside. In a report issued on December 27, Stifel Nicolaus also reiterated a Buy rating on the stock with a $210 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 $50.01 million. In comparison, last year the company had a GAAP net loss of $702 million.

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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.