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

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From a mathematical perspective, $100 billion in annual revenue places Spotify stock at a forward P/S ratio of around 0.9. In other words, the stock would have to quadruple between now and the year 2032 just to trade in line with its average P/S ratio of 3.8, which is a fantastic potential return.

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