Nov 13, 01:37 PM

Spotify Stock Hits All-Time Highs, Crosses $450 Mark Ahead of Earnings

Spotify Technology (SPOT) has seen a significant rise in its stock price, reaching all-time highs and crossing the $450 mark after hours. The company is set to report earnings, with analysts highlighting strong performance in the third quarter, driven by gross margins exceeding expectations at 31.1% and the impact of recent price increases. Deutsche Bank has raised Spotify's price target to $500 from $440, while KeyBanc has increased it to $520. Morgan Stanley reiterates Spotify as overweight, citing product leadership, pricing power, and operating leverage as key factors. Despite these positive developments, Spotify was downgraded by some analysts.

#Spotify Technology #Deutsche Bank #Spotify #KeyBanc #Morgan Stanley

Written with ChatGPT (GPT-4o).