Netflix: ‘ We Expect Healthy Double Digit Revenue Growth for the Full Year 2024 on a F/X Neutral Basis Driven by Continued Membership Growth as Well as Improvement in F/X Neutral ARM as We Adjust Prices’
Netflix Increases 2024 Operating Margin Forecast From 22-23% To 24% Read Post »
Streaming giant Netflix Inc (NASDAQ:NFLX) reported fourt- quarter financial results after the market close Tuesday. Here are the key highlights. What Happened: Netflix reported fourth-quarter revenue of $8.83 billion, which was up 12.5% year-over-year. The total came in ahead of a Street consensus estimate of $8.72 billion, according to data from Benzinga Pro. The company reported fourth-quarter earnings per share of $2.11, which missed a Street consensus estimate of $2.21. Netflix ended the fourth quarter with 260.28 million global paid members, which was up 12.8% year-over-year. The company added 13.12 million net paid subscribers in the fourth quarter. What’s Next: The company said it will continue to invest and build out its ad-supported platform, which it said is not a “primary driver” of revenue growth as of now. “Our aim is to make ads a more substantial revenue stream that contribute to sustained, healthy revenue growth in 2025 and beyond.” The company is forecasting
+12.35% The following is a summary of the Netflix, Inc. (NFLX) Q4 2023 Earnings Call Transcript: Financial Performance: Netflix reported a 70% quarter-on-quarter growth in its ads business over the last three quarters, totaling 23 million MAUs, with plans for continued growth. Cash balance over $7 billion at the end of 2023 with a projected $6 billion build in cash flow for 2024. Plans to increase content spend to as much as $17 billion, maintaining healthy revenue growth and growing profit and profit margins. Netflix expects healthy double-digit FX-neutral revenue growth for 2024, powered by member growth and full-year impact of 2023 net adds. Achieved 13% FX-neutral revenue growth in Q4 in the EMEA region. The company plans to return excess cash to shareholders via buybacks. Business Progress: Integration of pay sharing product has been successful and is expected to drive growth going forward. It’s venturing into different segments with
Netflix, Inc. (NFLX) Q4 2023 Earnings Call Transcript Summary Read Post »
Netflix, Inc. (NASDAQ: NFLX) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/24/2024 7.15% Keybanc $545 → $580 Maintains Overweight 01/19/2024 -21.48% Benchmark $350 → $425 Maintains Sell 01/18/2024 -0.05% Seaport Global $482 → $541 Maintains Buy 01/18/2024 -12.25% Piper Sandler $400 → $475 Maintains Neutral 01/18/2024 3.46% UBS $500 → $560 Maintains Buy 01/17/2024 8.08% B of A Securities $525 → $585 Maintains Buy 01/17/2024 0.69% Keybanc $525 → $545 Maintains Overweight 01/12/2024 10.85% Oppenheimer $475 → $600 Maintains Outperform 01/09/2024 -7.63% Goldman Sachs $400 → $500 Maintains Neutral 01/09/2024 4.57% BMO Capital → $566 Initiates Coverage On → Outperform 01/09/2024 -7.63% Citigroup → $500 Downgrades Buy → Neutral 12/28/2023 -3.01% Keybanc $510 → $525 Maintains Overweight 12/22/2023 -8.55% DZ Bank → $495 Downgrades Buy → Hold 12/21/2023 -3.01% Wedbush → $525 Reiterates Outperform → Outperform 12/18/2023 1.61% Morgan Stanley $475
Netflix, Inc. (NASDAQ: NFLX) Stock Analyst Ratings Read Post »
Amazon.com, Inc. (AMZN) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/24/2024 17.2% Telsey Advisory Group $165 → $185 Maintains Outperform 01/22/2024 10.86% Benchmark $170 → $175 Maintains Buy 01/19/2024 33.04% Wedbush → $210 Reiterates Outperform → Outperform 01/09/2024 10.86% Stifel $173 → $175 Maintains Buy 01/09/2024 26.7% BMO Capital → $200 Initiates Coverage On → Outperform 12/21/2023 33.04% Wedbush $180 → $210 Maintains Outperform 12/01/2023 26.7% Oppenheimer $170 → $200 Maintains Outperform 12/01/2023 14.03% Wedbush → $180 Reiterates Outperform → Outperform 11/29/2023 11.5% Truist Securities → $176 Reiterates Buy → Buy 11/29/2023 10.86% JMP Securities → $175 Reiterates Market Outperform → Market Outperform 11/10/2023 33.04% Tigress Financial $204 → $210 Maintains Buy 11/02/2023 1.36% HSBC → $160 Initiates Coverage On → Buy 10/27/2023 -0.54% DA Davidson $150 → $157 Maintains Buy 10/27/2023 20.37% Barclays $180 → $190 Maintains Overweight 10/27/2023 17.2%
Amazon.com, Inc. (AMZN) Stock Analyst Ratings Read Post »
Netflix (NFLX) reported Q4 earnings late Tuesday of $2.11 per diluted share, up from $0.12 a year earlier. Analysts polled by Capital IQ expected $2.22. Revenue in the quarter ended Dec. 31 was $8.83 billion, up from $7.85 billion a year earlier. Analysts surveyed by Capital IQ expected $8.71 billion. The company said it expects Q1 diluted EPS of $4.49 on revenue of $9.24 billion. Analysts polled by Capital IQ expect EPS of $4.10 on revenue of $9.26 billion.
Netflix Q4 EPS, Revenue Increase; Sets Q1 Outlook Read Post »
Uber Technologies, Inc. (NYSE:UBER) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/24/2024 3.69% Gordon Haskett → $66 Downgrades Buy → Hold 01/22/2024 11.55% Needham $63 → $71 Maintains Buy 01/17/2024 20.97% Mizuho $63 → $77 Maintains Buy 01/16/2024 -1.02% Needham → $63 Reiterates Buy → Buy 01/12/2024 22.55% Goldman Sachs $59 → $78 Maintains Buy 01/11/2024 22.55% Goldman Sachs $59 → $78 Maintains Buy 01/09/2024 8.41% BMO Capital → $69 Initiates Coverage On → Outperform 12/29/2023 -2.59% Nomura $59 → $62 Downgrades Buy → Neutral 12/19/2023 9.98% Keybanc $61 → $70 Maintains Overweight 12/04/2023 17.83% Oppenheimer $65 → $75 Maintains Outperform 12/01/2023 -2.59% JMP Securities → $62 Reiterates Market Outperform → Market Outperform 11/30/2023 -1.02% Needham → $63 Reiterates Buy → Buy 11/30/2023 13.12% Tigress Financial $66 → $72 Maintains Buy 11/13/2023 -2.59% JMP Securities $57 → $62 Maintains Market Outperform
Uber Technologies, Inc. (NYSE:UBER) Stock Analyst Ratings Read Post »
General Motors (NYSE:GM) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/24/2024 13.22% Redburn Atlantic → $40 Initiates Coverage On → Neutral 01/04/2024 — Wolfe Research Upgrades Peer Perform → Outperform 12/04/2023 168.89% Citigroup $90 → $95 Maintains Buy 12/04/2023 16.9% HSBC → $41.3 Initiates Coverage On → Buy 12/04/2023 18.88% Mizuho $38 → $42 Upgrades Neutral → Buy 12/01/2023 52.84% RBC Capital $48 → $54 Maintains Outperform 11/30/2023 13.22% Wedbush $46 → $40 Maintains Outperform 11/30/2023 -23.58% Wells Fargo $25 → $27 Maintains Underweight 11/01/2023 4.73% Barclays → $37 Upgrades Equal-Weight → Overweight 10/27/2023 13.22% Morgan Stanley $41 → $40 Maintains Overweight 10/25/2023 7.56% Mizuho $40 → $38 Maintains Neutral 10/25/2023 35.86% RBC Capital $47 → $48 Maintains Outperform 10/25/2023 4.73% Barclays $42 → $37 Maintains Equal-Weight 10/25/2023 69.83% Benchmark → $60 Reiterates Buy → Buy 10/25/2023 18.88% Goldman Sachs $47
General Motors (NYSE:GM) Stock Analyst Ratings Read Post »
Tesla (NASDAQ:TSLA) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/24/2024 -19.74% Redburn Atlantic → $170 Initiates Coverage On → Sell 01/23/2024 65.23% Wedbush → $350 Reiterates Outperform → Outperform 01/18/2024 18.02% Barclays $260 → $250 Maintains Equal-Weight 01/16/2024 65.23% Wedbush → $350 Reiterates Outperform → Outperform 01/02/2024 — Oppenheimer Reiterates → Perform 12/27/2023 79.4% Morgan Stanley $380 → $380 Reiterates Overweight → Overweight 12/22/2023 41.63% RBC Capital → $300 Reiterates Outperform → Outperform 12/22/2023 65.23% Wedbush $310 → $350 Maintains Outperform 12/18/2023 41.63% RBC Capital $301 → $300 Maintains Outperform 12/15/2023 -37.68% Guggenheim $125 → $132 Maintains Sell 12/14/2023 22.75% Deutsche Bank $275 → $260 Maintains Buy 12/01/2023 41.63% CFRA → $300 Maintains Buy 12/01/2023 42.1% RBC Capital → $301 Maintains Outperform 12/01/2023 10.94% Goldman Sachs $235 → $235 Maintains Neutral 12/01/2023 46.35% Wedbush → $310 Reiterates Outperform → Outperform 11/30/2023
Tesla (NASDAQ:TSLA) Stock Analyst Ratings Read Post »
Netflix’s deal to become the new home of hit wrestling show “WWE Raw” and other WWE shows in the US and abroad is a positive one, says Andrew Uerkwitz, analyst at Jefferies, in a research note. The streaming giant’s deal, a 10-year deal valued at more than $5 billion, expands the live content offerings on Netflix but doesn’t stray far from its scripted content roots, says the analyst. “A worthy experiment to determine if the WWE die-hards will convert to subs and show up for the live broadcast, but also with higher delayed watching or re-watch value than live sports given its scripted entertainment/story value as well,” says Uerkwitz. He adds that the additional optionality for behind the scenes spin-offs and expansions outside the US is interesting as well. Shares rise 9.8% to $540.40 in premarket trading.
Netflix’s Wrestling Deal a ‘Worthy Experiment’ In Expansion of Live Content Read Post »
By Brian Swint Netflix shares are surging after the company reported earnings on Tuesday after the bell. The stock gained 10% in premarket trading to $539.62 following strong subscriber growth and revenue gains. Coming into the session it was already up 34% over the past year and 20% in the last three months. However, Wall Street analysts were cautioning against euphoria. Deutsche Bank downgraded the shares to Hold from Buy, even though it also raised its price target to $525 from $460. Analyst Bryan Kraft said that Netflix’s leadership position is “fully priced into the stock at these levels.” Needham’s Laura Martin kept a Hold rating on the stock, without giving a price target. She recommends investors consider media stocks more focused on advertising revenue because spending on advertising will pick up this year in the absence of more Hollywood strikes and with elections coming up. Oppenheimer analysts led by
Netflix Stock Is Surging. But Some Analysts Urge Caution. — Barrons.com Read Post »
By Claudia Assis Tesla is likely to turn cautious about 2024 volume and profits Tesla Inc.’s price cuts have led Wall Street to lower estimates for the electric-vehicle maker’s profit, and to question its prospects. On Wednesday, investors will have a chance to see just how much the cuts have mattered in a larger context for Tesla (TSLA), which is scheduled to report fourth-quarter earnings then. “With the increased competition around the world, Tesla’s profit margins are definitely under threat,” said Sam Fiorani, vice president of global vehicle forecasting at AutoForecast Solutions. “Tesla needs to show excellent revenue growth and continued profit per vehicle to keep its investors happy. However, the downward trend in the stock price since Christmas hints that stockholders are not expecting overly rosy results” for the fourth quarter, he said. The EV maker got off to a rough start in 2024, cutting prices in China and
A Key Tesla Metric Is ‘Under Threat.’ Wall Street Will Soon Learn More. Read Post »