Guggenheim downgraded its rating of Spotify Technology (NYSE: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.
About Analyst Ratings
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This article was generated by Benzinga's automated content engine and reviewed by an editor.
