SPOTD Stock Price and Chart — BCBA:SPOTD

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Spotify Technology S.A. saw its stock increase by 12% following the release of its third-quarter earnings report.

Phillip Securities downgraded Spotify to 'Accumulate.' Morgan Stanley, BofA, and JP Morgan raised targets to $460, $515, and $530, respectively, while UBS adjusted to $485, maintaining a Buy rating.

Shares of Spotify Technology S.A. advanced 7.8% pre-bell after the company reported gaining more premium subscribers than anticipated in the third quarter.

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About Spotify Technology S.A.

Spotify Technology SA engages in the provision of digital music services. It operates through the Premium and Ad-Supported segments. The Premium segment provides subscribers with online and offline streaming access of music and podcasts on computers, tablets, and mobile devices. The Ad-Supported segment offers users with limited on-demand online access of music and unlimited online access of podcasts on their computers, tablets, and compatible mobile devices. The company was founded by Daniel Ek and Martin Lorentzon on December 27, 2006 and is headquartered in Luxembourg.