How Spotify Stock Can Double From Here

By Travis Hoium – May 22, 2024 at 4:55AM

NYSE: SPOT

Spotify Technology

Market Cap

$61B

Today's Change

(2.29%) $7.01

Current Price

$313.02

Price as of June 14, 2024, 4:00 p.m. ET

Spotify has been a hot stock, but it has a lot of work to keep the market happy.

Spotify (SPOT 2.29%) has made some necessary changes over the past year but now needs to return to growth mode. In this video, Travis Hoium highlights how audiobooks and advertising play a key role in the company's long-term trajectory.

*Stock prices used were end-of-day prices of May 20, 2024. The video was published on May 21, 2024.

Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Travis Hoium has positions in Alphabet and Spotify Technology. The Motley Fool has positions in and recommends Alphabet and Spotify Technology. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link, they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.