Spotify (SPOT) the most used music streaming platform among teens - Piper

Piper Sandler analyst Matt Farrell reiterated a Neutral rating and $105.00 price target on Spotify (NYSE: SPOT).

"Over two-third of teens are using Spotify for their music streaming services, nearly 2x the closest competitor in the space. In addition, ~44% of teens are paying for Spotify, more than any other music streaming player in the space. With over 96% of teens already using a music streaming service today, the market appears to be relatively penetrated, but there remains an opportunity to convert more teens to paying users moving forward."

For an analyst ratings summary and ratings history on Spotify click here. For more ratings news on Spotify click here.

Shares of Spotify closed at $136.44 yesterday.

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