Spotify stock dips after broker target cuts — what to watch before SPOT earnings
Spotify shares fell 2.6% to $539.37 Friday after Guggenheim and UBS cut their price targets but kept Buy ratings. The company launched a new podcast studio in Los Angeles and projected podcasts will add $10 billion in value over five years. Investors are watching for signs Spotify can grow revenue without losing subscribers. Fourth-quarter results are due Feb. 10.