Spotify Stock Gaps Lower After Surprise Quarterly Loss

Of the 32 analysts in coverage, 22 still carry a "buy" or better rating, leaving plenty room for downgrades. Plus, the 12-month consensus target price of $753.99 is a 17.6% premium to current levels, indicating the stock is ripe for price-target cuts. Spotify Technology SA (NYSE:SPOT) stock is down 9.4% to trade at $635.37 at last check, after the music streaming platform announced a surprise second-quarter loss as well as a revenue miss. The company also issued a disappointing revenue and operating income ...