Jem Aswad-Senior reports exclusive Music Bill Jem Aswad-Senior

Spotify Stock Closes at All-Time High

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variety.com

Jem Aswad Senior Music EditorAfter reaching an all-time high of $236 on Monday and $241.76 on Wednesday, Spotify’s stock closed even higher on Thursday — at $267.45  per share — boosted by an updated Goldman Sachs review that raised its price target from $205 to $280.The company singled out its recent podcast acquisitions and new advertising technology that has increased its revenue and subscribers, although its most recent numbers — 130 million paid subscribers and 286 million total global users — were announced in its last quarterly earnings call at the end of April.Still, the boost is remarkable, considering that the stock was priced at $118 million in March.

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