Why Spotify Stock Is Going Down Today

Why Spotify Stock Is Going Down Today
Rich Smith, The Motley Fool
·2 min read

Shares of music streamer Spotify Technology (NYSE: SPOT) are following all the other tech stocks down on Tuesday. Firstly, yes, Atlantic downgraded Spotify to neutral, but it also set a price target of $370 on Spotify stock that currently costs just $333 and change. Second, contradicting Atlantic's downgrade, analysts at Rosenblatt Securities reiterated their buy rating on Spotify today and set a $425 price target, saying "it's hard not to see Spotify's global dominance continue."