Bullish
Spotify's stock rises 4.7% to $511.07 amid global audiobook expansion
Spotify's stock price increased by 4.7% to $511.07, driven by the announcement of expanding its audiobook service to over 180 markets by the end of 2026. This expansion is expected to enhance user engagement and diversify revenue streams.
Key points
- Spotify's audiobook service to launch in India on November 12, 2026, offering access to a large potential user base.
- Analysts maintain a 'Moderate Buy' rating with an average price target of $592.75, indicating cautious optimism.
- UBS lowers Spotify's price target from $690 to $675, citing valuation concerns despite maintaining a 'Buy' rating.
Sources
AI-generated from public news sources. Not financial advice.
