Netflix Has 'Right Formula With Global Content Creation': Why Analyst Is Bullish For Fourth Quarter Results
Portfolio Pulse from Chris Katje
Wedbush analyst Alicia Reese is bullish on Netflix Inc (NASDAQ:NFLX) ahead of its Q4 earnings report, with an Outperform rating and a $525 price target. The optimism is based on a survey indicating an uptick in subscribers and ARPU, strong cash flow, and effective strategies like global content creation, password sharing crackdown, and an ad-supported tier. Reese predicts Q4 revenue of $8.758 billion and 8.75 million new subscribers, exceeding consensus estimates. NFLX shares are up 66% YTD.
December 21, 2023 | 5:48 pm
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Wedbush analyst Alicia Reese has a positive outlook on Netflix, with an Outperform rating and a $525 price target, based on strong subscriber growth, ARPU, and cash flow. Predicts Q4 revenue and subscriber numbers to surpass estimates.
The positive sentiment from a leading analyst, along with the expectation of higher Q4 revenue and subscriber growth than consensus estimates, is likely to instill investor confidence and could lead to a short-term uptick in NFLX's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100