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Morgan Stanley Sticks to Their Buy Rating for Spotify (SPOT)

Tipranks - Tue Apr 21, 9:30AM CDT

Morgan Stanley analyst Sean Diffley maintained a Buy rating on Spotify today and set a price target of $630.00.

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Diffley covers the Communication Services sector, focusing on stocks such as Netflix, Spotify, and AT&T. According to TipRanks, Diffley has an average return of 0.6% and a 75.00% success rate on recommended stocks.

In addition to Morgan Stanley, Spotify also received a Buy from KeyBanc’s Justin Patterson in a report issued on April 15. 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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