Netflix, Inc. (NASDAQ: NFLX) Stock Analyst Ratings

/ / Consumer Discretionary /

Netflix, Inc. (NASDAQ: NFLX) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/12/2024 21.24% Oppenheimer $475 → $600 Maintains Outperform 01/09/2024 1.03% Goldman Sachs $400 → $500 Maintains Neutral 01/09/2024 14.37% BMO Capital → $566 Initiates Coverage On → Outperform 01/09/2024 1.03% Citigroup → $500 Downgrades Buy → Neutral 12/28/2023 6.08% Keybanc $510 → $525 Maintains Overweight 12/22/2023 0.02% DZ Bank → $495 Downgrades Buy → Hold 12/21/2023 6.08% Wedbush → $525 Reiterates Outperform → Outperform 12/18/2023 11.13% Morgan Stanley $475 → $550 Maintains Overweight 10/19/2023 -4.02% Morgan Stanley $430 → $475 Upgrades Equal-Weight → Overweight 10/19/2023 -3.01% JP Morgan $455 → $480 Maintains Overweight 10/19/2023 -7.05% Guggenheim → $460 Reiterates Buy → Buy 10/19/2023 6.08% Wedbush → $525 Reiterates Outperform → Outperform 10/19/2023 -6.04% Truist Securities $430 → $465 Upgrades Hold → Buy 10/19/2023 -4.02% Oppenheimer $470 → $475 Maintains Outperform […]

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JPMorgan Chase’s Q4 Adjusted Earnings, Revenue Increase

/ / Financials /

JPMorgan Chase (JPM) reported Q4 adjusted earnings Friday of $3.97 per share, up from $3.04 a year earlier. Analysts polled by Capital IQ expected $3.60. Revenue expressed as the sum of total noninterest income and net interest income for the quarter ended Dec. 31 was $38.57 billion, compared with $34.55 billion a year earlier. Analysts surveyed by Capital IQ estimated $39.78 billion.

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JPMorgan Expects Lower 2024 Interest Income As Rates Come Down

/ / Financials /

JPMorgan is expecting net interest income, excluding markets revenue, of around $88B in 2024, down from $94B in 2023 on the assumption that the Federal Reserve will cut rates six times during the year. The expected cuts come after the Fed hiked rates, hoping to cool rapid inflation. Including markets revenue, the figure is expected to drop to $90B from $97B, reflecting an $8B pullback from rate cuts, deposit repricing and internal migration offset by $1.5B in loan growth, including continuing growth in crest card revolving balances, along with modest deposit attrition.

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Wells Fargo Reports Fourth Quarter 2023 Net Income of $3.4 billion, or $0.86 per Diluted Share

Wells Fargo Reports Fourth Quarter 2023 Net Income of $3.4 billion, or $0.86 per Diluted Share

/ / Financials /

Financial Results Net income of $3.4 billion, or $0.86 per diluted common share Revenue of $20.5 billion, up 2% – Net interest income of $12.8 billion, down 5% – Non-interest income of $7.7 billion, up 17% Non-interest expense of $15.8 billion, down 2% Pre-tax pre-provision profit of $4.7 billion, up 22% Effective income tax rate of (3.0)% included $621 million of discrete tax benefits Average loans of $938.0 billion, down 1% Average deposits of $1.3 trillion, down 3% Credit Quality Provision for credit losses of $1.3 billion – Total net loan charge-offs of $1.3 billion, up $692 million, with net loan charge-offs of 0.53% of average loans (annualized) – Allowance for credit losses for loans of $15.1 billion, up $1.5 billion Capital and Liquidity CET1 capital of $140.8 billion CET1 ratio of 11.4% under the Standardized Approach and 12.7% under the Advanced Approach Liquidity coverage ratio (LCR) of 125%

Wells Fargo Reports Fourth Quarter 2023 Net Income of $3.4 billion, or $0.86 per Diluted Share Read Post »

Netflix Ad-Tier Seeing Acceleration In Subscribers

/ / Consumer Discretionary /

Netflix is offering early signs of the popularity of its new ad-supported tier. Oppenheimer analysts say in a research note that the 23 million monthly active users on the ad tier announced by the company’s president of advertising, is up from 15 million in November and 5 million in May. They say the accelerating growth suggests Netflix has upside on its subscriber numbers this year. The analysts raise their full-year estimates for subscriber net adds and increase their price target to $600 a share from $475.

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Qualcomm Should Benefit From a Handset Recovery. Citi Says to Buy the Stock. — Barrons.com

/ / Technology /

By Angela Palumbo Qualcomm stock was rising after a Citi analyst upgraded his rating on the shares, saying he is confident about a recovery in the handset market. Analyst Christopher Danely upgraded shares of Qualcomm to Buy from Neutral and raised his target for the stock price to $160 from $110. The stock was up 1.4% to $141.03 in premarket trading on Friday. Danely wrote in a research note Friday that his industry checks “indicate inventory replenishment continues in the handset space which should benefit both revenue and margins at Qualcomm.” Qualcomm is a major supplier to the smartphone market, so any weakening in demand for the devices is trouble for the maker of mobile processors and 5G wireless chips. It suffered in 2023 when smartphone demand took a hit. The research firm International Data Corporation reported in December that the worldwide mobile phone shipments were expected to fall to

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JPMorgan Forecasts Declines for Interest Income — WSJ

/ / Financials /

By David Benoit The booming gains in lending profits at JPMorgan Chase and other banks may be ending. Throughout 2023, the biggest bank in the country benefited from higher interest rates and had to continually increase its forecast for net-interest income, the amount of revenue it collects from loans minus what it pays for deposits and funds. It earned a record $89.27 billion in net-interest income in 2023, up 34% from the prior year. Friday, JPMorgan forecast lending profits would slide to $88 billion for 2024, minus its volatile markets business. Their forecast assumes 6 rate cuts in the new year, a decline in deposits and muted loan growth. The forecast looked like a steeper decline when compared to the rate it was earning in the fourth quarter, CFO Jeremy Barnum said, calling for “meaningful sequential quarterly declines throughout 2024.” Wells Fargo is also forecasting net-interest income will fall in

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Uber Technologies, Inc. (NYSE:UBER) Stock Analyst Ratings

/ / Consumer Discretionary /

Uber Technologies, Inc. (NYSE:UBER) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/12/2024 20.64% Goldman Sachs $59 → $78 Maintains Buy 01/11/2024 20.64% Goldman Sachs $59 → $78 Maintains Buy 01/09/2024 6.72% BMO Capital → $69 Initiates Coverage On → Outperform 12/29/2023 -4.11% Nomura $59 → $62 Downgrades Buy → Neutral 12/19/2023 8.27% Keybanc $61 → $70 Maintains Overweight 12/04/2023 16% Oppenheimer $65 → $75 Maintains Outperform 12/01/2023 -4.11% JMP Securities → $62 Reiterates Market Outperform → Market Outperform 11/30/2023 -2.56% Needham → $63 Reiterates Buy → Buy 11/30/2023 11.36% Tigress Financial $66 → $72 Maintains Buy 11/13/2023 -4.11% JMP Securities $57 → $62 Maintains Market Outperform 11/08/2023 -4.11% Morgan Stanley $60 → $62 Maintains Overweight 11/08/2023 -4.11% Roth MKM $61 → $62 Maintains Buy 11/08/2023 -4.11% JP Morgan $56 → $62 Maintains Overweight 11/08/2023 -10.29% Truist Securities $60 → $58 Maintains

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