Spotify Wrapped 2023 With 130% Returns And A Restructure: 3 Analysts Rate It A Buy
Portfolio Pulse from Surbhi Jain
Spotify Technology SA (NYSE: SPOT) has seen a 130% return in 2023, with organizational changes including a 17% reduction in headcount. Analysts are optimistic, with 3 recent Buy ratings and raised price targets, citing strong performance, financial discipline, and potential for margin expansion. The consensus rating is a Buy with an average price target of $211.60.
January 05, 2024 | 3:01 pm
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POSITIVE IMPACT
Spotify's stock delivered strong returns and is undergoing a restructure with a 17% headcount reduction. Analysts are optimistic, with Buy ratings and raised price targets, indicating potential for continued strong performance.
The positive sentiment from analysts, including raised price targets and Buy ratings, suggests confidence in Spotify's strategic changes and potential for future growth. The restructure aims to boost profitability, which could lead to increased investor interest and a rise in stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100