Spotify Stock Has Soared 142% In 2024. Is It Too Late to Buy?

Spotify (NYSE: SPOT) is the world's largest music streaming platform. Its stock has been on a tear this year with a 142% gain so far, which crushes the 23% return in the S&P 500 (SNPINDEX: ^GSPC).Record subscriber numbers, strong revenue growth, and surging profits have been contributing factors to the incredible move in Spotify stock. The company's long-term forecast suggests it still has significant room for growth, which could drive even further returns for investors in the coming years.However, Spotify stock is starting to look expensive following its powerful rally, so is it too late to buy?Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool