Spotify (SPOT) Earnings: Fundamentals Still On Track

<p>Spotify (SPOT) stock price is down over 15% so far today. Jefferies' Andrew Uerkwitz says that they keep a buy rating on the stock with a $275 price target. He believes that the developed market growth remains healthy, two-sided marketplace exceeded expectations, listening engagement was up, and the overall ad revenue also beat expectations. </p><p><br></p>