Spotify stock price: SPOT holds near $480 — what traders are watching after earnings
Spotify shares rose about 1% in premarket trading Wednesday after jumping 14.8% Tuesday, trading near $481. The company reported Q4 operating income of 701 million euros and 10% growth in paying subscribers to 290 million. Revenue guidance for Q1 fell short of analyst expectations, while operating income forecast slightly beat. Evercore ISI cut its price target on the stock to $700.