Why Spotify's Stock Is Trading Lower Today

Spotify Technology S.A. (NYSE: 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.