Goldman Sachs Raises Forecast On Spotify, Cites User Engagement Growth and Potential Deluxe Tier Revenue
Portfolio Pulse from Anusuya Lahiri
Goldman Sachs analyst Eric Sheridan has raised the price target for Spotify Technology SA (NYSE:SPOT) to $430, citing user engagement growth and potential revenue from a deluxe tier. Spotify's stock has significantly outperformed the market, and the company is showing promising margin improvements post-restructuring.
October 07, 2024 | 7:22 pm
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Goldman Sachs has increased its price target for Spotify to $430, citing strong user engagement and potential revenue from a deluxe tier. Spotify's stock has outperformed the market, and the company is showing promising margin improvements post-restructuring.
The analyst's positive outlook and increased price target are likely to boost investor confidence in Spotify, potentially driving the stock price up in the short term. The focus on user engagement and new revenue streams from a deluxe tier adds to the positive sentiment. Additionally, Spotify's recent stock performance and margin improvements post-restructuring support a bullish outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100