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Spotify (SPOT) Gets a Buy from KeyBanc

Tipranks - Tipranks - Thu Apr 16, 4:06AM CDT

In a report released today, Justin Patterson from KeyBanc maintained a Buy rating on Spotify, with a price target of $745.00.

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Patterson covers the Communication Services sector, focusing on stocks such as Netflix, Trade Desk, and Roku. According to TipRanks, Patterson has an average return of 6.3% and a 46.75% success rate on recommended stocks.

In addition to KeyBanc, Spotify also received a Buy from Morgan Stanley’s Sean Diffley in a report issued on April 13. However, on April 9, Monness maintained a Hold rating on Spotify (NYSE: SPOT).

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Based on Spotify’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $4.53 billion and a net profit of $1.17 billion. In comparison, last year the company earned a revenue of $4.24 billion and had a net profit of $367 million

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