Spotify (SPOT) Receives a Buy from J.P. Morgan
In a report released on April 13, Doug Anmuth from J.P. Morgan maintained a Buy rating on Spotify, with a price target of $700.00. The company’s shares closed yesterday at $504.10.
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Anmuth covers the Communication Services sector, focusing on stocks such as Meta Platforms, Alphabet Class A, and Netflix. According to TipRanks, Anmuth has an average return of 11.9% and a 57.72% success rate on recommended stocks.
In addition to J.P. Morgan, Spotify also received a Buy from KeyBanc’s Justin Patterson in a report issued today. However, on April 9, Monness maintained a Hold rating on Spotify (NYSE: SPOT).
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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