What To Know About Guggenheim's Downgrade of Spotify Technology

What To Know About Guggenheim's Downgrade of Spotify Technology

Guggenheim downgraded its rating of Spotify Technology SPOT to Neutral with a price target of $95.00, changing its price target from $200.00 to $95.00.

Shares of Spotify Technology are trading down 12.12% over the last 24 hours, at $97.03 per share.

A move to $95.00 would account for a 2.09% decrease from the current share price.

About Spotify Technology

Spotify, headquartered in Stockholm, Sweden, is one of the world's largest music streaming service providers, with over 150 million total listeners. The firm monetizes its users through both a paid subscription model, referred to as its premium service, and an ad-based model, referred to as its ad-supported service. Revenue from premium and ad-supported services represented 90% and 10% of Spotify's 2017 total revenue, respectively.

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Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.

Posted In: BZI-AAR-UPDATEAnalyst Ratings