The Spotify Technology share reached a new high of EUR 360.65 on October 23, 2024, an increase of 0.38% compared to the previous day. This price jump underlines the streaming giant’s impressive performance last year, in which the share price rose by a whopping 154.99%. The company continues to benefit from its leading position in the global music streaming market and the growing popularity of its podcast offerings.
Challenges despite success
Despite the price fireworks, Spotify is not spared from challenges. With a current price-to-sales ratio of 5.42 and a price-to-cash flow ratio of 105.57, the stock appears overvalued according to traditional valuation standards. In addition, the company continues to face high license fees and intense competition in the streaming sector.
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