Streetbeat News

NFLX

Netflix, Inc.

https://www.netflix.com

Industry

Entertainment

Netflix, Inc. provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices. It also provides DVDs-by-mail membership services in the United States. The company has approximately 222 million paid members in 190 countries. Netflix, Inc. was incorporated in 1997 and is headquartered in Los Gatos, California.

Open

781.37

Mkt cap

340B

Volume

High

798.21

P/E Ratio

44.95

52-wk high

798.21

Low

779.94

Div yield

N/A

52-wk low

434.35

Netflix Inc (NASDAQ:NFLX) is set to report Q4 earnings on Jan. 23 with expectations of $2.22 EPS and $8.71 billion in revenues. Analysts will focus on the impact of reduced per-member revenue and higher costs, as well as the effectiveness of 2023 strategies like password sharing crackdown and ad-based subscriptions. The stock is currently rated a Buy with a target price of $452.11, and it was trading at $488.25.

Portfolio Pulse from Surbhi Jain

January 22, 2024 | 4:08 pm

As the S&P 500 Index hits new highs, investors are closely monitoring a pivotal week of Q4 earnings reports from major companies. Mixed results have been seen so far, with financial sector companies underperforming. Key reports from Netflix, Intel, and Tesla are anticipated to significantly influence market trends. The SPDR S&P 500 ETF Trust (SPY) also saw an increase, reflecting market optimism.

Portfolio Pulse from Shanthi Rexaline

January 22, 2024 | 10:00 am

Sofia Vergara and Netflix are being sued by the family of Griselda Blanco, the late Colombian drug lord, to prevent the release of the 'Griselda' series. The family claims their image and likeness were used without permission. Michael Blanco, Griselda's son, alleges the series uses his private literary work and seeks a court injunction to stop the show's release scheduled for Jan. 25.

Portfolio Pulse from Maureen Meehan

January 21, 2024 | 1:30 pm

Apple Inc. (AAPL) has surpassed Samsung in global smartphone shipments, according to IDC data. To avoid a U.S. ban due to a patent dispute with Masimo Corp. (MASI), Apple has disabled the blood oxygen feature in its latest watches. CEO Tim Cook showcased a behind-the-scenes look at the production of Apple's new 'spatial computing' device, the Vision Pro. Meanwhile, the Vision Pro's launch will not include a Netflix Inc. (NFLX) app, which could be a setback for Apple's content strategy.

Portfolio Pulse from Benzinga Neuro

January 20, 2024 | 4:02 pm

Jim Cramer expressed skepticism about the mass market appeal of Apple Inc.'s new Apple Vision Pro due to its high price point, starting at $3,499. He compared it to a much cheaper 60-inch TV available at Walmart for $289, suggesting that the cost of the Vision Pro is prohibitive for many consumers. Cramer also mentioned that popular apps like Netflix, Spotify, and YouTube are not available on the Vision Pro, although he predicts YouTube will eventually be accessible. Apple is making a significant sales push for the product, including a behind-the-scenes video by CEO Tim Cook.

Portfolio Pulse from Rounak Jain

January 20, 2024 | 9:08 am

Netflix (NYSE:NFLX) has seen a 3.12% increase in short interest since its last report, with 9.97 million shares sold short, representing 2.31% of its float. It would take about 3.09 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, Netflix has less short interest compared to its peer group average of 7.14%. The rise in short interest doesn't necessarily predict a near-term price drop.

Portfolio Pulse from Benzinga Insights

January 19, 2024 | 7:00 pm

Benchmark analyst Matthew Harrigan has maintained a Sell rating on Netflix (NASDAQ:NFLX) but increased the price target from $350 to $425.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 4:55 pm

YouTube (owned by Alphabet Inc.) and Spotify Technology SA have decided not to launch apps for Apple Inc.'s upcoming mixed-reality headset, Vision Pro. This follows Netflix Inc.'s earlier decision to not participate. Major apps like Disney+, HBO Max, Peacock, ESPN, and Amazon Prime Video will be available on Vision Pro. The lack of support from YouTube, Spotify, and Netflix could impact Apple's strategy for the device, which is focused on video and entertainment. The Vision Pro, priced at $3,499, is set to launch on Feb. 2 with pre-booking starting on Friday. The device recently received FCC approval but will not support Wi-Fi 6E.

Portfolio Pulse from Ananya Gairola

January 19, 2024 | 1:44 am

Seaport Global analyst David Joyce has maintained a Buy rating on Netflix (NASDAQ:NFLX) and increased the price target from $482 to $541.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 7:57 pm

Piper Sandler analyst Matt Farrell reiterated a Neutral rating on Netflix (NASDAQ:NFLX), raising the price target to $475 from $400. Netflix is expected to post Q4 results on January 23, 2024. The stock has rallied nearly 40% in recent months, indicating investor expectations for a strong Q4 performance. Global paid net adds for Q4 are expected to be similar to Q3, with global ARM flat year-over-year. Netflix anticipates Q4 revenue of $8.7 billion, an 11% increase year-over-year, and a 2024 operating margin of 22-23%. The 2024 cash content spend is projected to be $17 billion, up from $13 billion in 2023, due to the impact of a writer's strike. NFLX shares were up 0.67% to $483.57 at last check.

Portfolio Pulse from Nabaparna Bhattacharya

January 18, 2024 | 7:01 pm

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