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Fly News Breaks for August 29, 2016
NFLX
Aug 29, 2016 | 07:23 EDT
Axiom analyst Victor Anthony started Netflix with a Sell rating and $80 price target. The streaming service closed yesterday up 26c to $97.58. The company's is seeing rising competition and diminishing pricing power, Anthony tells investors in a research note. He adds that rising content costs will pressure Netflix's ability to meet Street estimates.
News For NFLX From the Last 2 Days
NFLX
Mar 27, 2024 | 08:06 EDT
Wedbush analyst Michael Pachter raised the firm's price target on Netflix to $725 from $615 and keeps an Outperform rating on the shares. The firm also removed Netflix from Wedbush's Best Ideas List after a year of significant growth. The firm's quarterly survey indicates a seasonal deceleration in subscribers and an expansion of subscribers on Netflix's ad tier. As long as global trends remain consistent and the ad market continues to improve this year, Wedbush expects Netflix to continue to report strong results. With that said, some of the major catalysts that drove its Best Ideas List placement have been priced in. The firm thinks the ad tier will continue to limit churn, and it has a significant opportunity to expand its advertising revenue in 2024 and beyond. Furthermore, Wedbush believes Netflix has reached the right formula with global content creation, balancing costs, and increasing profitability.