Shares of Spotify Technology S.A. (NYSE:SPOT) traded at a new 52-week high today of $362.00. Approximately 418,000 shares have changed hands today, as compared to an average 30-day volume of 1.5 million shares.
Over the past year, Spotify Technology S.A. has traded in a range of $109.18 to $362.00 and is now at $360.69, 230% above that low.
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.
Spotify Technology S.A. (NYSE:SPOT) defies analysts with a current price ($360.69) 74.3% above its average consensus price target of $92.80.
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