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Artificial intelligence could increase the value Spotify brings to users and help the bottom line.
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I'm maintaining my buy-rating on Spotify in light of TikTok Music's shutdown this November, which I expect will boost Spotify's subscriber base significantly. I expect SPOT to outperform due to momentum in premium subscribers' organic growth and migration from TikTok. I hereon share my positive sentiment on Spotify and why I see more upside in 4Q24 and FY25.
Spotify (SPOT) closed at $375.40 in the latest trading session, marking a +1.86% move from the prior day.
A wide profit zone on a highly rated stock makes this short-term trade attractive.
Audio streaming platform Spotify was down for thousands of users on Sunday, according to outage tracking website Downdetector.com.
NEW YORK--(BUSINESS WIRE)--Spotify Technology S.A. (NYSE: SPOT) will post its third quarter 2024 financial results and deck to shareholders on Tuesday, November 12, 2024 after market close. The company will hold a question and answer session to discuss third quarter 2024 financial results at 5:00 pm Eastern Time. Management will answer questions submitted via Slido. Questions may be submitted on the day of the call at www.slido.com using the event code #SpotifyEarningsQ324. A live webcast of th.
Spotify (SPOT) concluded the recent trading session at $383.96, signifying a +0.95% move from its prior day's close.
I believe Spotify's 20% CAGR justifies paying 29x forward operating profits, as the company is still in high-growth mode. I trust Spotify's strong net cash position allows it to navigate any headwinds and continue expanding its margins. I see that its loyal subscriber base ensures stable long-term revenues, supporting its attractive valuation.
Spotify is expanding its tool that helps create playlists using generative artificial intelligence for premium users to four new markets, including the United States and Canada, the Swedish streaming giant said on Tuesday.