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Benzinga
Benzinga
Business
Wayne Duggan

Spotify Analyst Cuts Target, Says Joe Rogan Controversy 'Becoming A Risk'

Spotify Joe Rogan Jessica Reif Ehrlich NYSE Spotify Technology SA

Shares of Spotify Technology SA (NYSE:SPOT) are down 15.7% since the company reported fourth-quarter revenue and earnings beats on Feb. 2. In addition to user growth guidance that may have fallen short of lofty market expectations, Spotify has been dealing with controversy surrounding the content of its most popular podcast, the "Joe Rogan Experience."

Unclear Trajectory: On Monday, Bank of America analyst Jessica Reif Ehrlich said Spotify's gross margin trajectory has become less clear, and the company's decision to stop providing full-year guidance doesn't help.

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