Spotify Stock Nears All-Time High After Getting Bullish Report
Summary
Shares of Spotify Technology ( SPOT ) neared an all-time high Monday after the streaming music leader received a bullish report from a Wall Street analyst.XMonness Crespi Hardt analyst Brian White initiated coverage of Spotify stock with a buy rating and a price target of 265."Given Spotifys strong growth trajectory, subscription-based model, solid financial position, global reach, expanding brand recognition and the No.1 position in the early stages of the rapidly growing music streaming market, we believe investors will continue to gravitate toward the stock over the next 12 months," White said in a report to clients."These oceans of data offer valuable insights into content consumption and user behavior, improving the value of the platform.