Spotify (SPOT) will become the exclusive home for Alex Cooper’s popular Call Her Daddy podcast series starting next month. SPOT stock fell 3.48% on Tuesday to close at $242.76.
The Call Her Daddy podcast launched three years ago. It has been available on Spotify and other platforms. Now the podcast is moving exclusively to Spotify. It means all previous and future episodes of the show will only be available through Spotify beginning July 21. The podcast’s fans call themselves the Daddy Gang.
“The show has always been about challenging the status quo and manifesting conversations that previously only happened behind closed doors. I can’t wait for this next chapter with Spotify, where I will continue raising the bar with great content and guests for the Daddy Gang,” said Cooper.
“Alex’s direct approach and sense of humor have captivated Gen Z and millennial listeners, who appreciate the show’s risqué topics and entertaining personal stories,” Spotify said in a press release.
Spotify’s acquisition of Call Her Daddy comes after it emerged as the fifth-most popular podcast on its platform globally in 2020. It also ranked the second-most popular podcast from a female host on Spotify globally, according to March 2021 data released as part of the streaming company’s EQUAL campaign. (See Spotify stock analysis on TipRanks)
Citigroup analyst Jason Bazinet recently reiterated a Hold rating on Spotify stock but cut the price target to $275 from $310. Bazinet’s new price target implies 13.28% upside potential. The analyst noted that the stock is reasonably valued at the current price.
Consensus among analysts is a Moderate Buy based on 10 Buys and 6 Holds. The Spotify average analyst price target of $341.15 implies 40.53% upside potential to current levels.
According to TipRanks’ Hedge Fund Trading Activity tool, confidence in SPOT is currently Very Positive. The cumulative change in holdings across all eight funds that were active in the last quarter was an increase of 1.5 million shares.