Earnings in AH. With the summer months upon us, I wonder if people are watching as much Netflix as they were in March - April. A lot of good news is priced in, and chart shows signs of buyer exhaustion.
Netflix's stock gets another price target boost, this time from Morgan Stanley's Benjamin Swinburne
Another analyst raised their price target on Netflix Inc.'s stock Wednesday, with Morgan Stanley's Benjamin Swinburne the latest to boost his outlook on the streaming video company just ahead of earnings, citing expectations of "higher long-term penetration and margins." Swinburne raised his target by 19% to $575, which is about 10% above current prices, from $485. He reiterated the overweight rating he's had on the stock for at least the past five years. "There is much debate over the pull-forward effect of the [COVID-19] pandemic on Netflix's strong member growth," Swinburne wrote in a note to clients. "Less discussed but potentially quite profound is the benefit of greater scale, sooner." He said he believes the greater scale will accelerate engagement growth even in Netflix's most mature markets and put pressure on its primary competition, the incumbent TV broadcasters. There have now been no less than eight price target increases in the past week, and 10 target increases this month, according to FactSet. The average price target has increased to $494.29, which is 5.4% below current levels, from $468.34 at the end of June. Netflix is scheduled to report second-quarter earnings after Thursday's closing bell. Netflix's stock slipped 0.4% in morning trading, putting it on track for a third-straight loss since closing at a record $548.73 on Friday. It has run up 14.9% this month, while the S&P 500 has gained 4.4%.
https://finance.yahoo.com/m/3319e3dd...html?.tsrc=rss
Earnings in AH. With the summer months upon us, I wonder if people are watching as much Netflix as they were in March - April. A lot of good news is priced in, and chart shows signs of buyer exhaustion.
The question is, is what's bad for Netflix, good for the economy, i.e. not as many people watching?
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
Great point, but I thought that all time low gas prices would hurt TSLA and I was wrong on that one.
Cramer says when sports come back it will not be good for NFLX. Since markets are always forward looking, and sports are due to startup soon, how will the market interpret it?
https://www.thestreet.com/streetligh...rts-comes-back
Q2 EPS of $1.59 vs 1.81est.
Down in the AH, but the only price that matters is during market hours. We'll see how the algos interpret the transcripts tomorrow.
So we got the first half of the equation... You were right above theme expecting lower subscriptions next quarter. Now, will the market interpret that as a good thing for the broader market. Obviously the NASDAQ will initially pullback on this because NFLX is a part of FAANG, but should it? And NFLX is trading right at its 50-day EMA AH.
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
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