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NFLX

Netflix

$400.19

-13.12 (-3.17%)

10:47
07/13/18
07/13
10:47
07/13/18
10:47

Netflix subscriber growth in focus after $46B rally, Bloomberg says

Streaming media giant Netflix, whose stock price has steadily advanced since reporting a "blowout earnings report in April," will have a chance to prove itself when it delivers its quarterly report next week, says Bloomberg. According to the Bloomberg report, Netflix added $46B to its market value since its last earnings report in April. Investors will be focused on subscriber growth in this quarters report amid 'sky-high" expectations, added Bloomberg. Reference Link

  • 16

    Jul

NFLX Netflix
$400.19

-13.12 (-3.17%)

07/12/18
RILY
07/12/18
NO CHANGE
Target $313
RILY
Neutral
Searches for Netflix shows slowed to flattish, says B. Riley FBR
Searches for new Netflix shows slowed to flattish versus the year-ago period, and year-over-year growth in global searches for the term "Netflix" also slowed somewhat, B. Riley FBR analyst Barton Crockett tells investors in a research note. The analyst says this is the first time he's detected flattish growth since the "big originals ramp started." Amid heightened expectations, the analyst finds the flattish search volume as "potentially cautionary." Netflix has had "stock performance that challenges the investing bromide that trees can't grow to the sun," Crockett writes. He believes the Google search slowdown "adds a little substance for those of us who are inclined to have some caution." The analyst reiterates a Neutral rating on Netflix with a $313 price target. UBS this morning downgraded the shares to Neutral from Buy.
07/12/18
07/12/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Netflix (NFLX) downgraded to Neutral from Buy at UBS with analyst Eric Sheridan saying the stock has appreciated 35% since the Q1 earnings report and 117% year-to-date. 2. Perrigo (PRGO) downgraded to Sell from Neutral at Goldman Sachs with analyst Jami Rubin saying she sees "no meaningful risk" to estimates but expects the "business to drift" due to a lack of meaningful new launches in the pipeline. 3. Extra Space Storage (EXR) downgraded to Buy from Conviction Buy at Goldman Sachs with analyst Andrew Rosivach citing significant share price outperformance and relative valuation. 4. Cedar Fair (FUN) downgraded to Neutral from Buy at Goldman Sachs with analyst Christopher Prykull citing the softer-than-expected mid-year revenue update. 5. Broadcom (AVGO) downgraded to In Line from Outperform at Evercore ISI, to Outperform from Top Pick at RBC Capital, to Neutral from Buy at B. Riley FBR, and to Neutral from Outperform at Macquarie. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/12/18
07/12/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. UBS CUTS NETFLIX TO NEUTRAL: UBS analyst Eric Sheridan downgraded Netflix (NFLX) to Neutral while raising his price target for the shares to $425 from $375. The stock has appreciated 35% since the Q1 earnings report and 117% year-to-date, Sheridan told investors in a research note. The analyst said he believes the shares already reflect a 40 times GAAP EBITDA multiple on 2022 estimates. In addition to valuation, Sheridan does not see the "pronounced upside" to Monday's Q2 results relative to prior quarters. B RILEY FBR ALSO CAUTIOUS ON NETFLIX: Searches for new Netflix shows slowed to flattish versus the year-ago period, and year-over-year growth in global searches for the term "Netflix" also slowed somewhat, B. Riley FBR analyst Barton Crockett told investors in a research note. Amid heightened expectations, the analyst finds the flattish search volume as "potentially cautionary." The analyst reiterated a Neutral rating on Netflix with a $313 price target. After the cautious notes, Netflix is down almost 2% in late morning trading. GOLDMAN SACHS RAISES TWITTER TARGET: Goldman Sachs analyst Heath Terry raised his price target on Twitter (TWTR) to $55 and kept his Buy rating, saying that despite the run-up in the stock price year-to-date, consensus expectation on the company continue to underestimate its drive to increase and better monetize user engagement. The analyst contended that despite trading at a higher valuation on enterprise value to expected FY19 EBITDA, its growth rate justifies the premium. BROADCOM DOWNGRADED FOLLOWING CA DEAL: B. Riley FBR analyst Craig Ellis downgraded Broadcom (AVGO) to Neutral and lowered his price target for the shares to $245 from $308 following the company's acquisition of CA Technologies (CA). The deal adds strategic and operational uncertainty, Ellis tells investors in a research note. RBC Capital analyst Amit Daryanani also downgraded Broadcom, to Outperform from Top Pick, and lowered his price target to $300 from $330 after its acquisition of CA Technologies. The analyst noted that the deal places Broadcom "in the penalty box from a valuation expansion perspective", stating that while it offers "strong accretion" and provides a "foundation to perhaps scale its model beyond traditional semiconductor sector", it is also entering a market where it has limited history, likely tempering investor optimism on the stock going forward. Broadcom shares were also downgraded by analysts at Longbow, Macquarie and B. Riley FBR following last night's deal announcement.
07/13/18
MKMP
07/13/18
NO CHANGE
Target $390
MKMP
Buy
Netflix Q2 and Q3 may see subs above consensus, says MKM Partners
MKM Partners analyst Rob Sanderson kept his Buy rating and $390 price target on Netflix ahead of its Q2 earnings on Monday, saying the run-up in the stock price suggests investor expectations of better than expected subscriber growth and above-consensus outlook for Q3. The analyst notes that in spite of the "relatively weaker" content slate in Q2, the momentum will continue, leading to another quarter of "strong results". Sanderson adds that Netflix has become a "must own" for growth managers, and fund positioning has adjusted this year toward higher weightings while the short interest has declined by 8M shares since mid-December.

TODAY'S FREE FLY STORIES

NEWR

New Relic

$109.01

0.35 (0.32%)

07:39
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07:39
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07:39
Initiation
New Relic initiated  »

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  • 07

    Aug

GS

Goldman Sachs

$231.01

4.71 (2.08%)

07:38
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Goldman Sachs reports Q2 FICC revenue $1.68B, 45% higher than last year »

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IQ

iQIYI

$36.92

3 (8.84%)

07:38
07/17/18
07/17
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07:38
Technical Analysis
Technical Take: iQIYI falls, completes Skymoons acquisition »

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NVCR

Novocure

$35.60

2.5 (7.55%)

07:37
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07/17
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07:37
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Novocure announces scientific track for tumor treating fields at EMBS »

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  • 26

    Jul

RVI

Retail Value

$35.60

-0.36 (-1.00%)

, DDR

DDR Corp.

$14.31

-0.045 (-0.31%)

07:36
07/17/18
07/17
07:36
07/17/18
07:36
Initiation
Retail Value, DDR Corp. initiated  »

Retail Value initiated…

RVI

Retail Value

$35.60

-0.36 (-1.00%)

DDR

DDR Corp.

$14.31

-0.045 (-0.31%)

03/08/13
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  • 25

    Jul

GS

Goldman Sachs

$231.01

4.71 (2.08%)

07:36
07/17/18
07/17
07:36
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07:36
Hot Stocks
Goldman Sachs reports Q2 annualized ROE 12.8% »

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XXII

22nd Century

$2.64

-0.12 (-4.35%)

07:35
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07/17
07:35
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07:35
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22nd Century comments on FDA's ANPRM to lessen nicotine in cigarettes »

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NFLX

Netflix

$400.24

4.32 (1.09%)

, MSFT

Microsoft

$104.91

-0.51 (-0.48%)

07:35
07/17/18
07/17
07:35
07/17/18
07:35
Options
Unusual call flow in option market yesterday »

Notable call activity was…

NFLX

Netflix

$400.24

4.32 (1.09%)

MSFT

Microsoft

$104.91

-0.51 (-0.48%)

SNAP

Snap

$13.07

-0.295 (-2.21%)

FOXA

21st Century Fox

$46.71

-0.84 (-1.77%)

MS

Morgan Stanley

$48.91

0.85 (1.77%)

TGT

Target

$77.20

-0.525 (-0.68%)

FSLR

First Solar

$53.99

-0.08 (-0.15%)

CZR

Caesars

$11.63

0.075 (0.65%)

FTI

TechnipFMC

$30.58

-0.36 (-1.16%)

HFC

HollyFrontier

$68.91

0.25 (0.36%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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  • 17

    Jul

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  • 18

    Jul

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  • 26

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  • 02

    Aug

  • 07

    Aug

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    Aug

  • 08

    Aug

  • 04

    Sep

BCRX

BioCryst

$6.20

0.01 (0.16%)

07:34
07/17/18
07/17
07:34
07/17/18
07:34
Upgrade
BioCryst rating change  »

BioCryst upgraded to…

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GS

Goldman Sachs

$231.01

4.71 (2.08%)

07:33
07/17/18
07/17
07:33
07/17/18
07:33
Earnings
Goldman Sachs reports Q2 EPS $5.98, consensus $4.66 »

Reports Q2 revenue $9.4B,…

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ADS

Alliance Data

$218.91

-24.58 (-10.09%)

, LB

L Brands

$32.01

0.31 (0.98%)

07:32
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Hot Stocks
Columbus signs renewal agreement with Victoria's Secret »

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ADS

Alliance Data

$218.91

-24.58 (-10.09%)

LB

L Brands

$32.01

0.31 (0.98%)

03/08/13
Wedge Partners
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  • 19

    Jul

  • 08

    Aug

PRIM

Primoris

$28.12

-0.51 (-1.78%)

07:32
07/17/18
07/17
07:32
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07:32
Hot Stocks
Primoris announces electrical distribution award valued over $75M »

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ZS

Zscaler

$41.10

1.38 (3.47%)

07:30
07/17/18
07/17
07:30
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07:30
Recommendations
Zscaler analyst commentary  »

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TSRO

Tesaro

$40.55

-4.34 (-9.67%)

, QEP

QEP Resources

$12.09

-0.67 (-5.25%)

07:30
07/17/18
07/17
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Options
Unusual put flow in option market yesterday »

Notable put activity was…

TSRO

Tesaro

$40.55

-4.34 (-9.67%)

QEP

QEP Resources

$12.09

-0.67 (-5.25%)

HUBG

Hub Group

$49.10

-1.85 (-3.63%)

03/08/13
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  • 26

    Jul

  • 19

    Aug

RPM

RPM

$60.00

-0.54 (-0.89%)

07:27
07/17/18
07/17
07:27
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07:27
Downgrade
RPM rating change  »

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  • 19

    Jul

OSUR

OraSure

$16.28

-1.04 (-6.00%)

07:27
07/17/18
07/17
07:27
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07:27
Recommendations
OraSure analyst commentary  »

OraSure weakness a buying…

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  • 18

    Jul

  • 08

    Aug

NFLX

Netflix

$400.24

4.32 (1.09%)

07:26
07/17/18
07/17
07:26
07/17/18
07:26
Recommendations
Netflix analyst commentary  »

Canaccord views Netflix…

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ECOR

ElectroCore

$14.49

-0.51 (-3.40%)

07:25
07/17/18
07/17
07:25
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07:25
Initiation
ElectroCore initiated  »

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FTI

TechnipFMC

$30.58

-0.36 (-1.16%)

07:24
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07/17
07:24
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07:24
Initiation
TechnipFMC initiated  »

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  • 26

    Jul

QTS

QTS Realty Trust

$40.90

-0.05 (-0.12%)

07:23
07/17/18
07/17
07:23
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07:23
Initiation
QTS Realty Trust initiated  »

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  • 26

    Jul

BA

Boeing

$356.01

5.2 (1.48%)

07:22
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Boeing signs integrated services agreement with Blackshape »

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  • 25

    Jul

NFLX

Netflix

$400.24

4.32 (1.09%)

07:22
07/17/18
07/17
07:22
07/17/18
07:22
Recommendations
Netflix analyst commentary  »

Oppenheimer remains…

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NFLX

Netflix

$400.24

4.32 (1.09%)

07:22
07/17/18
07/17
07:22
07/17/18
07:22
Recommendations
Netflix analyst commentary  »

Netflix price target…

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INXN

Interxion

$64.05

0.77 (1.22%)

07:21
07/17/18
07/17
07:21
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07:21
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Interxion initiated  »

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  • 02

    Aug

07:20
07/17/18
07/17
07:20
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07:20
General news
FX Update: The Dollar remained on a softening tack »

FX Update: The Dollar…

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