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Barclays Sticks to Their Buy Rating for Spotify (SPOT)

Tipranks - Tipranks - Fri Feb 13, 7:30PM CST

Barclays analyst Kannan Venkateshwar maintained a Buy rating on Spotify on February 11 and set a price target of $650.00.

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According to TipRanks, Venkateshwar is a 4-star analyst with an average return of 8.7% and a 55.63% success rate. Venkateshwar covers the Communication Services sector, focusing on stocks such as AT&T, Comcast, and New York Times.

In addition to Barclays, Spotify also received a Buy from TipRanks – Google’s Google Internet Content and Information in a report issued yesterday. However, on the same day, TipRanks – xAI reiterated 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 $4.49 billion and a net profit of $1.16 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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