Spotify (SPOT) Stock Moves -3.26%: What You Should Know

Spotify (SPOT) closed at $499.91, down 3.26% in the latest session, underperforming the broader market and its sector. The company is projected to report earnings of $3.24 per share (down 15.4% YoY) with revenue expected at $5.76 billion (up 15.31% YoY). Analysts maintain a Zacks Rank #3 (Hold) rating, with the stock trading at a Forward P/E of 36.42, above its industry average of 20.28.