Why Spotify's Stock Is Trading Lower Today

Spotify Technology S.A. SPOT shares are trading lower after UBS downgraded the company's stock from Buy to Sell and raised its price target from $189 to $204.

The new price target represents firm expectations of an 18.5% decrease from its current value.

Spotify together with its subsidiaries provides audio streaming services worldwide. It operates through two segments, Premium and Ad-Supported.

Spotify's stock was trading down 3.83% at $251.10 per share on Tuesday at the time of publication. The company has a 52-week high of $285.40 and a 52-week low of $109.18.

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