Out of the gate this morning, SPOT stock is up 3.3% to trade at $150.63. Yesterday, the shares fell as low as $135.51, before closing the session down 2.7% at $145.87. ApInvestment banking company Raymond James has downgraded its rating of Spotify (SPOT) stock, due in large part to music streaming’s popularity decline amid the COVID-19 coronavirus. While the NYSE set a reference price of $132 per share on Monday, Spotify opened Tuesday's trading at $166.47 - rising as high as $169 on its first day, before closing at $149.94. Market capitalization of Spotify (SPOT) Market cap: 15.82 Billion As of October 2022 Spotify has a market cap of 15.82 Billion.This makes Spotify the worlds 926th most valuable company by market cap according to our data. Given the current short-term trend, the stock is expected to fall -17.16 during the next 3 months and, with a 90 probability hold a price between 61.89 and. The shares first began trading on the New York Stock Exchange (NYSE) on Tuesday, though the company chose to go with a rare direct listing, versus pricing an initial public offering (IPO). The brokerage said it thinks the company can reach profitability, and that, "Similar to Netflix when the company was early on in its transition from DVDs to streaming video, Spotify's margin structure appears far from optimized today." Analysts estimate an earnings decrease this quarter of 0.18 per share, a decrease next quarter of 0.00 per share, a decrease this year of 1.08 per share, and. (SPOT) stock quote, history, news and other vital information to help you with your stock trading and investing. Stifel also started SPOT stock with a "buy" rating, and set its price target at $180. What's more, the brokerage firm said SPOT stock deserves "premium valuation" and set a $200 price target - a nearly 39% premium to last night's close - while signaling expectations for global subscribers to grow to around 55% by 2025 versus the current 40%-45%. Canaccord Genuity initiated coverage on the Wall Street newcomer with a "buy" rating. Pixalate Releases Top CTV and Mobile Apps. Shares of Spotify Technology (NYSE:SPOT) are trading higher this morning, after the streaming music service received a pair of bullish brokerage notes. (NYSE:SPOT) Given Average Rating of Hold by Brokerages Defense World 2 days ago.
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