Spotify Stock Gets Price-Target Hikes Ahead Of Earnings Report
Summary
Streaming music leader Spotify Technology ( SPOT ) received a pair of bullish Wall Street reports on Friday, just days before it is scheduled to release second-quarter results.XBuckingham Research on Friday reiterated its buy rating on Spotify stock and raised its price target to 201 from 195."We continue to view the industry as being driven by 1) expansion into new territories, 2) share gains within market, and 3) proliferation of connected speakers and cars (e.g. new engagement channels).Spotify added 4 million new paying subscribers to its premium on-demand music service in the March quarter.Spotify and Pandora compete with Alphabet ( GOOGL ), Amazon ( AMZN ), Apple ( AAPL ) and others in the streaming music business.
Classifications
industries
No industries detected
applications
No applications detected
AskAI Classifications
Labels
No AI classifications detected