Analysts give Spotify (NYSE:SPOT) an average “Moderate Buy” rating

Spotify Technology S.A. (NYSE:SPOT) has been given a consensus “Moderate Buy” recommendation from the twenty-three brokerages that cover the stock.

Four analysts gave Spotify a hold recommendation, and twelve gave it a buy recommendation. The average 12-month target price is $132.78, according to MarketBeat.

Overall, updates on Spotify from analysts have been positive in recent months.

Spotify stock is set to open at $132.25 Tuesday, near its target price and up from $81.90 near the start of 2023.

Bruce Houghton is the Founder and Editor of Hypebot and MusicThinkTank, a Senior Advisor at Bandsintown, President of the Skyline Artists Agency, and a professor for the Berklee College Of Music.