We may also receive compensation if you click on certain links posted on our site. We may receive compensation from our partners for placement of their products or services. While we are independent, the offers that appear on this site are from companies from which receives compensation. but here's some supporting information and analysis.į is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. Only you can make the decision on the time to leap. The company saw paid net additions of 8.8 million over the three months ended September 30, 2023. Netflix expects paid net additions for the fourth quarter to be similar to Q3 2023. Netflix forecasts adjusted earnings of $2.15 per share on $8.7 billion in revenue for the fourth quarter of 2023, in line with the $2.15 in earnings on $8.8 billion in revenue Wall Street expects. January 16, 2024: Netflix is expected to release its next earnings report on 23 January and results may be positive, seeing as the streaming company added 8.76 million new subscribers, surpassing its forecasts, largely down to its advertising support plan and cracking down on password sharing in the US. Analyst Justin Patterson from KeyBanc maintained a Buy rating, with a $545 price target. Analyst Jason Bazinet from Citi maintained a Hold rating, with a $500 price target. maintained a Sell rating, with a $425 price target. Analyst Matthew Harrigan from Benchmark Co. January 19, 2024: The latest analyst outlook on Netflix is mixed. January 23, 2024: Analyst Michael Morris from Guggenheim reiterated a Buy rating on Netflix (NFLX), with a $500 price target. January 24, 2024: Netflix's stock price increased slightly after releasing its earnings report, adding over 13 million subscribers and beating revenue expectations. The gift was made to an undisclosed entity and disclosed in a regulatory filing Friday, according to CNBC. January 29, 2024: Netflix co-founder and executive chairman Reed Hastings has gifted two million shares of the streaming giant, with a current value of more than $1.1 billion. All international money transfer servicesįebruary 8, 2024: Analyst Eric Sheridan from Goldman Sachs maintained a Hold rating on Netflix, with a $500 price target.If that sounds too extreme, " Stranger Things" have happened.ĭisclosure: Comcast's NBCUniversal is the parent company of CNBC. Netflix co-founder and co-CEO Reed Hastings said on the earnings call that he wants Netflix to be a world leader in gaming. Investment firm Jefferies downgraded Netflix on Monday and suggested the company consider shifting its focus from streaming to video games so it can offer a new growth story to reinvigorate shareholders. Disney shares are down about 7% since Netflix announced its fourth-quarter earnings, while shares of ViacomCBS have fallen close to 4%. In other words, if Netflix is now valued at $350 per share, should investors in Disney, ViacomCBS and Discovery also revalue those companies? That's what appears to be happening. "The sell-off in Netflix's equity makes it much harder to use as a bullish comp in the media world." "We see this Netflix quarter as a worrying data point for the rest of the streaming industry on multiple fronts," Nathanson, whose firm recommends holding Netflix shares, wrote in a note to clients after the report. While Netflix's loss could be viewed as its competitors' gain, research analyst Michael Nathanson of MoffettNathanson has a dimmer perspective. The industry followed Netflix's lead, and the company is now acknowledging that competition is eating into its growth. Focusing on an unbundled streaming product that allows consumers to watch wherever and whenever they want is a logical move for any media company. Millions of Americans cancel traditional pay TV each year. The pandemic didn't change the shift to streaming - it just hastened it. Disney, AT&T 's WarnerMedia, Comcast' s NBCUniversal and ViacomCBS accelerated their shift to streaming, overhauling their internal business structures along the way, as part of a land grab for cord cutters. In the past two years, every major media company completely reorganized its business to capture a slice of Netflix's surging value. The economic reopening may not be the only thing stunting Netflix's growth. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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