At least four analysts have come out with hold ratings.

Despite Spotify's recent surge on Wall Street, four analysts at major firms have slashed their price target, maintaining a close watch on the company.

Spotify shares closed down 3.2% at $144.22 on Wednesday and … Spotify has transformed the way people access and enjoy music. . The analyst started with a $225 price target and a positive forecast. Description: Spotify, headquartered in Stockholm, Sweden, is one of the world’s largest music streaming service providers, with over 150 million total listeners. When media analyst Amy Yong of Macquarie (Track Record & Recommendations) first initiated coverage on Spotify at the end of June, she already was upbeat on Spotify’s story.

Spotify stock rose 1.2% to 194.69 on the stock market today . Music industry stocks were on the move Tuesday after a prominent analyst initiated coverage on Spotify Technology SA (NYSE: SPOT), Sirius … The analyst also sees its business model inflecting upward and gaining more market share ahead. dominated the run-up to Spotify Technology SA’s debut, the coverage since Tuesday morning has been less sanguine. Today, millions of people in 79 countries and territories have access to more than 50 million tracks, whenever and wherever they want. Gabelli & Co. analyst John Tinker initiated coverage of Spotify Technology SPOT, -2.52% with a hold rating on Tuesday, ahead of the stock's expected trading debut later in the day. 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. The analysts in coverage at the latter said they expect a strong quarterly update from the company, fueled by a larger-than-expected increase in subscriber growth. Please note that any opinions, estimates or forecasts regarding NetEase, Inc.'s performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of NetEase, Inc. or its management. When media analyst Amy Yong of Macquarie first initiated coverage on Spotify at the end of June, she already was upbeat on Spotify’s story. NetEase, Inc. is followed by the analysts listed above. Monness Crespi Hardt analyst Brian White initiated coverage of Spotify stock with a buy rating and a price target of 265.