What's Going On With Netflix Shares?
Portfolio Pulse from Henry Khederian
Netflix Inc (NASDAQ:NFLX) shares increased by 4.17% to $577.75 following a strong first quarter earnings report. Revenue was up 14.8% year-over-year at $9.37 billion, with earnings per share at $5.28, surpassing estimates of $4.51. The company added 9.33 million paid subscribers, reaching a total of 269.60 million, a 16.0% increase from the previous year. Wall Street analysts rate Netflix as an Outperform, with Macquarie's Tim Nollen predicting a 45.12% rise in the stock in the coming year. Over the past three months, Netflix's stock rose 4.49%, reflecting improved investor sentiment.
April 23, 2024 | 8:47 pm
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POSITIVE IMPACT
Netflix Inc reported a strong first quarter, with revenue and earnings per share exceeding expectations, and significant subscriber growth.
The positive earnings report and the optimistic outlook from analysts, especially the prediction of a 45.12% stock rise by Macquarie's Tim Nollen, suggest a strong short-term bullish sentiment for Netflix. The reported increase in subscribers and revenue growth are key drivers of this positive outlook, likely leading to an upward trend in the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100