Spotify Technology SA Gets a Buy Rating from Buckingham

By Ryan Adsit

In a report released today, Matthew Harrigan from Buckingham maintained a Buy rating on Spotify Technology SA (NYSE: SPOT), with a price target of $201. The company’s shares closed yesterday at $182.19, close to its 52-week high of $189.97.

According to TipRanks.com, Harrigan is a 4-star analyst with an average return of 6.5% and a 63.3% success rate. Harrigan covers the Services sector, focusing on stocks such as Charter Communications, Sirius XM Holdings Inc, and 21st Century Fox.

Spotify Technology SA has an analyst consensus of Moderate Buy, with a price target consensus of $187.30, representing a 2.8% upside. In a report issued on July 9, MKM Partners also maintained a Buy rating on the stock with a $200 price target.

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The company has a one-year high of $189.97 and a one-year low of $135.51. Currently, Spotify Technology SA has an average volume of 2.29M.

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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.