Analyst: Spotify's Revenue Forecast Is 'Too Ambitious'

Despite today's bear note, the brokerage bunch is optimistic toward SPOT, with 24 of 35 firms in coverage sporting a "buy" or better. Plus, the 12-month consensus target price of $345.70 is an 11.4% premium to current levels. The equity is today testing long-term support from the 40-day moving average, which has been in place since late October. Shares are not far off from their June 5, three-year high of $330.91, and despite pacing for a thirdstraight daily loss still sport a 92.9% year-over-year lead. Sha ...