Spotify up after Pivotal Research PT raise
Shares of music streaming platform Spotify SPOT.N rise 1% to 722.03
Pivotal Research raises PT to $900 from $800
Pivotal believes SPOT has opportunity to lever its ~700M monthly active users and tech investments to add complementary services/products such as in-app purchases, etc
Further advertising improvements, as SPOT advertising remains under-monetized, leveraging AI, potentially moving into live programming have the potential to increase user engagement/monetization/user growth - brokerage
In a potentially weakening global economic climate, SPOT remains a very attractively priced entertainment alternative, Pivotal says
SPOT has risen 60% YTD, as of last close
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