Spotify (SPOT) Receives New Coverage from Analysts at Canaccord Genuity

Canaccord Genuity assumed coverage on shares of Spotify (NASDAQ:SPOT) in a research report issued on Thursday, Marketbeat reports. The firm set a “buy” rating and a $200.00 price target on the stock. Canaccord Genuity’s price objective would indicate a potential upside of 35.21% from the company’s current price.

Other equities research analysts have also issued reports about the company. Guggenheim began coverage on Spotify in a research report on Tuesday. They issued a “buy” rating and a $175.00 target price on the stock. Stifel Nicolaus began coverage on Spotify in a research report on Thursday. They issued a “buy” rating and a $180.00 target price on the stock. Gabelli began coverage on Spotify in a research report on Tuesday. They issued a “hold” rating and a $130.00 target price on the stock. MKM Partners began coverage on Spotify in a research report on Thursday, March 29th. They issued a “buy” rating and a $200.00 target price on the stock. Finally, Atlantic Securities began coverage on Spotify in a research report on Wednesday, March 28th. They issued an “overweight” rating on the stock. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Spotify presently has a consensus rating of “Buy” and an average target price of $184.17.

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Shares of NASDAQ SPOT opened at $147.92 on Thursday. Spotify has a 1-year low of $135.51 and a 1-year high of $169.00.

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About Spotify

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.

Analyst Recommendations for Spotify (NASDAQ:SPOT)

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