Buy Spotify (SPOT) on Selloff - Monness, Crespi, Hardt

April 28, 2021 12:41 PM EDT
Get Alerts SPOT Hot Sheet
Price: $234.86 --0%

Rating Summary:
    21 Buy, 15 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 14 | Down: 1 | New: 22
Trade Now! 
Join SI Premium – FREE

Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.

Monness, Crespi, Hardt analyst Brian J. White reiterated a Buy rating and $380.00 price target on Spotify (NYSE: SPOT) following earnings and the related selloff. White sees the selloff as another attractive buying opportunity.

The analyst commented, "This morning, Spotify reported healthy 1Q:21 results and finetuned its 2021 outlook; however, MAU was a point of concern on this morning’s call. We have found the market often takes issue with a particular data point during a Spotify earnings call and the stock subsequently plummets; however, we believe the fundamental trends continue to move in the right direction. As such, we view today’s selloff as another attractive buying opportunity. We are raising our estimates and maintaining our 12-month price of $380."

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 $292.92 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS View

Related Entities