Spotify Technology SA (SPOT) Received its Third Buy in a Row

After Merrill Lynch and Barclays gave Spotify Technology SA (NYSE: SPOT) a Buy rating last month, the company received another Buy, this time from Monness. Analyst Brian White reiterated a Buy rating on Spotify Technology SA today and set a price target of $310.00. The company’s shares closed last Thursday at $258.61.

According to TipRanks.com, White is a top 25 analyst with an average return of 30.2% and a 77.9% success rate. White covers the Technology sector, focusing on stocks such as Slack Technologies, Alphabet Class A, and Salesforce.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Spotify Technology SA with a $293.20 average price target, a 12.8% upside from current levels. In a report issued on October 14, Barclays also maintained a Buy rating on the stock with a $320.00 price target.

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The company has a one-year high of $299.67 and a one-year low of $109.18. Currently, Spotify Technology SA has an average volume of 1.47M.

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Spotify Technology SA is a digital music service offering music fans instant access to a world of music. The company operates through the following segments: Premium and Ad-Supported. The Premium segment provides subscribers with unlimited online and offline high-quality streaming access of music and podcasts on computers, tablets, and mobile devices, users can connect through speakers, receivers, televisions, cars, game consoles, and smart watches. It also offers a music listening experience without commercial breaks. The Ad-Supported segment provides users with limited on-demand online access of music and unlimited online access of podcasts on their computers, tablets, and compatible mobile devices. It also serves both premium subscriber acquisition channel and a robust option for users who are unable or unwilling to pay a monthly subscription fee but still want to enjoy access to a wide variety of high-quality audio content. The company was founded by Daniel Ek and Martin Lorentzon in April, 2006 and is headquartered in Luxembourg.