Current price data and investor sentiment
The Spotify S share was trading at USD 329.25 on September 5, 2024, which corresponds to a slight increase of 0.20% compared to the previous day. With an annual increase of over 111%, the share is showing its strong side. Analysts are optimistic: The US investment bank Goldman Sachs recently upgraded the share from “Neutral” to “Buy” and raised the price target to USD 425. Analyst Eric Sheridan emphasizes Spotify’s economies of scale and growing customer base. A positive mood can also be observed on the community forum, with users counting on further growth.
Quarterly figures and market outlook
Spotify reported an impressive 20% revenue growth last quarter. Subscriber numbers and operating profit continue to rise, beating analysts’ expectations. These positive results have pushed the share price higher and sparked a new rally. The next quarterly earnings report is scheduled for March 2025, which gives investors an opportunity to monitor future performance even more closely.
outlook
In the short term, Spotify shares are likely to continue to rise in value due to positive analyst sentiment and strong quarterly figures. However, investors should keep an eye on volatile market conditions and potential setbacks.
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