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# Spotify [NYSE: SPOT] At All-Time High, But May Have Hit Peak
- URL: https://www.hypebot.com/spotify-nyse-spot-at-all-time-high-but-may-have-hit-peak/
- Published: 2021-01-11T13:10:34.000Z
- Updated: 2021-01-11T13:10:35.000Z
- Description: Spotify stock hit an all-time high on the New York Stock Exchange on Friday, January 8th. The streamer’s stock reached $354.60 on Friday, and closed at $353.48, up 7% for. Continue reading [https://www.hypebot.com/hypebot/2021/01/spotify-nyse-spot-at-all-time-high-but-may-have-hit-peak.html]
- Author: Bruce Houghton
- Tags: Music Business, Music Tech, Streaming, Spotify, #wp, #wp-post, #Import 2026-01-21 09:51

Spotify stock hit an all-time high on the New York Stock Exchange on Friday, January 8th.

The streamer’s stock reached $354.60 on Friday, and closed at $353.48, up 7% for the day and 12.2% for the week.

### **Why did Spotify stock rise?**

Overall, stocks have been performing strongly across most sectors, and Bank of America also recently increased its Spotify target price from $357-per-share to $428.

### “36% Overvalued”

At Friday’s high, Spotify’s value rose to $66.1 billion and that puts its total stock valuation above what most analysts see as the company’s true value.

Spotify stock is at least 36% overvalued “even under very generous inputs,” according to analyst Edgar Torres H on [Seeking Alpha](https://seekingalpha.com/article/4398183-why-spotify-was-great-investment-no-longer-case?ref=hypebot.com). “Therefore, I recommend investors pass up on Spotify for now, but look for a potential entry if the stock revisits $225.”