Sunday, May 19, 2024
HomeWorld NewsUnited States NewsBarclays sees 20 percent gain for Spotify, says it's reinventing how music...

Barclays sees 20 percent gain for Spotify, says it’s reinventing how music is sold


Spotify is reinventing the way music is sold and could gain upwards of 20 percent, analysts with Barclays said Tuesday.

“Our optimism around SPOT stems from the company’s history of creating best-in-class products and user experience and innovating ahead of peers,” Barclays analysts said in a note.

The firm issued an overweight rating on the stock and a price target of $210. Shares of Spotify rose roughly 3 percent in early trading Tuesday, to a session high of $176.30.

“We believe Spotify is under-monetizing its ad business in order to improve the customer experience and gain market share,” Barclays wrote. But that’s likely to change, as Spotify seeks new ways to make money on music, the analysts said.

“The revenue calculation of the music advertising business is nearly identical to online advertising names like Facebook and Google,” Barclays said.

Shares of Spotify are up 12 percent in the last 30 days and up roughly 30 percent from the reference price set as it listed shares on the New York Stock Exchange in April.

More Related Articles


Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

5 Days Trending

We use cookies to ensure that we give you the best experience on our website.