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The Key Takeaways
- Netflix will report the results of its fourth quarter after Tuesday’s market close.
- A majority of analysts tracked by Visible Alpha have a "buy" or equivalent rating for Netflix, with a consensus price target implying more than 5% upside.
- Netflix's ad-supported plan has been a major success and has lowered the pressure on Netflix to add as many new subscribers, analysts said.
Netflix (NFLX), a streaming giant, will report its results for the fourth quarter after the close of business on Tuesday. The analysts’ ratings are mostly positive.
Visible Alpha has tracked 19 Netflix brokers. Of those, Visible Alpha found that 14 of them have been active. “buy” Or equivalent to four “hold” The rating system “sell.” The price target for the consensus is around $905. That’s about 7% more than Thursday’s closing share price.
Wedbush issued this week a target of $950 on Netflix shares. “virtually insurmountable lead” In the streaming Wars. It said that the $6.99 advertising-supported subscription has had a limited impact on customer turnover. “lowering pressure on adding new subscribers,” This should drive growth in revenue over the coming years.
JPMorgan and Oppenheimer Reduce Netflix Price Target
JPMorgan has lowered their price target from $1,010 to $1,000, citing the streamer’s password crackdown and ad supported tier. “should further expand NFLX’s subscriber base while driving high-margin incremental revenue.” Oppenheimer trimmed its bullish price forecast this week.
Wall Street predicts that Netflix’s latest quarterly revenue will increase 15% from the previous quarter, to $10.13billion. Earnings are expected to rise to $1.84billion or $4.23/share, up from $937.8m or $2.11/share.
Netflix no longer reports quarterly numbers of subscribers starting Tuesday.
Over the past year, this stock has risen roughly 70%.
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