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Rosenblatt Securities Stick to Their Buy Rating for Spotify Technology SA

November 2, 2020
Mark Zgutowicz
Investing.com

Rosenblatt Securities analyst Mark Zgutowicz reiterated a Buy rating on Spotify Technology SA (NYSE:SPOT) on Monday, setting a price target of $325, which is approximately 35.48% above the present share price of $239.89.

Zgutowicz expects Spotify Technology SA to post earnings per share (EPS) of -$1.91 for the fourth quarter of 2020.

The current consensus among 16 TipRanks analysts is for a Moderate Buy rating of shares in Spotify Technology SA, with an average price target of $283.69.
The analysts price targets range from a high of $357 to a low of $181.

In its latest earnings report, released on 06/30/2020, the company reported a quarterly revenue of $1.89 billion and a net profit of -$167 million. The company's market cap is $45.48 billion.

According to TipRanks.com, Rosenblatt Securities analyst Mark Zgutowicz is currently ranked with 5 stars on a 0-5 stars ranking scale, with an average return of 43.7% and a 71.91% success rate.

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.

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