Spotify Stock Declines 4.6% Amid Mixed Analyst Reports, Sphere Is Week’s Biggest Gainer ...Middle East

Although most music stocks gained value this week, Spotify dropped 4.6% to $302.27 despite the U.S. markets surging to record heights and two new analyst reports that indicated the company’s share price has much room for improvement. On Wednesday (July 10), KeyBanc increased Spotify’s price target from $400 to $410 on the belief that the market is underestimating the company’s revenue, earnings and gross margin for 2025 and 2026. In addition, Wolfe Research initiated coverage of Spotify with a $390 price target. Given Spotify’s closing price of $302.27 on Friday, KeyBanc’s new price target implies 35.6% upside while

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Last updated : 13 July 2024 clock 02:36 AM

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Spotify Stock Declines 4.6% Amid Mixed Analyst Reports, Sphere Is Week’s Biggest Gainer ...Middle East

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