Netflix

A bullish analyst on Wednesday reaffirmed his positive stance on Netflix, Inc. (NASDAQ:NFLX) ahead of its fourth-quarter results due Tuesday. The Netflix Analyst: KeyBanc Capital Markets analyst Justin Patterson maintained an Overweight rating on the stock and upped the price target from $525 to $545, suggesting roughly 13% upside potential. The Netflix Thesis: For the fourth quarter, Patterson models revenue of $8.74 billion, an 11% year-over-year growth, and earnings per share of $2.22, a cent ahead of the consensus estimate. The analyst also called for a net paid subscriber addition of 9.6 million compared to the 8.7 million consensus estimate. Looking ahead, Netflix will likely guide to at least $9.1 billion in first-quarter revenue and net adds above the year-ago level, Patterson said. “We view net adds as the key driver of the quarter, and expect Netflix will stick to qualitative commentary framing net adds vs. the prior year,” he said. While seeing the potential for […]

Oppenheimer analyst Jason Helfstein maintained Netflix Inc (NASDAQ:NFLX) with an Outperform and raised the price target from $475 to $600. On Wednesday, NFLX’s President of Advertising announced ad Monthly Active Users (MAUs) >23 million vs. 15 million in November & 5 million in May, indicating an accelerating pace of ad subscribers. Near-term, the acceleration suggests 4Q net adds above guidance and Street. Over the medium-term, the analyst noted the pace of acceleration offers plenty of room for subscriber growth in 2024 and is conservatively raising his 4Q and FY24 net adds to +10 million and +24 million vs. prior +9 million and +21 million and Street’s +9 million and 18 million, respectively. Assuming year-end 2024 ad MAU of 50 million (~25 million subscribers), the analyst now estimates $40 billion and 46 billion of total revenue (+20% and +14% Y/Y) in FY24 and FY25 vs. Street’s $38 billion and $43 billion (+14% and +11%).

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

Oppenheimer analyst Jason Helfstein maintains Netflix (NASDAQ:NFLX) with a Outperform and raises the price target from $475 to $600.

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.

Netflix, Inc. (NASDAQ: NFLX) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/09/2024 5.25% Citigroup → $500 Downgrades Buy → Neutral 12/28/2023 10.51% Keybanc $510 → $525 Maintains Overweight 12/22/2023 4.2% DZ Bank → $495 Downgrades Buy → Hold 12/21/2023 10.51% Wedbush → $525 Reiterates Outperform → Outperform 12/18/2023 15.77% Morgan Stanley $475 → $550 Maintains Overweight 10/19/2023 -0.01% Morgan Stanley $430 → $475 Upgrades Equal-Weight → Overweight 10/19/2023 1.04% JP Morgan $455 → $480 Maintains Overweight 10/19/2023 -3.17% Guggenheim → $460 Reiterates Buy → Buy 10/19/2023 10.51% Wedbush → $525 Reiterates Outperform → Outperform 10/19/2023 -2.12% Truist Securities $430 → $465 Upgrades Hold → Buy 10/19/2023 -0.01% Oppenheimer $470 → $475 Maintains Outperform 10/19/2023 -14.96% Rosenblatt $400 → $404 Maintains Neutral 10/19/2023 7.35% Keybanc → $510 Upgrades Sector Weight → Overweight 10/17/2023 -9.49% Truist Securities $485 → $430 Maintains Hold 10/16/2023

Citigroup analyst Jason Bazinet downgrades Netflix (NASDAQ:NFLX) from Buy to Neutral and announces $500 price target.

Netflix (NFLX) was downgraded to neutral from buy at Citi, which kept a $500 price target on the streaming giant. “First, we believe 2024 revenue estimates may be a tad too high. Second, we see scope for 2025 content investments to exceed Street estimates. Third, we cannot rule-out potential acquisitions,” said analysts led by Jason Bazinet. Netflix stock has climbed 48% over the last 52 weeks though it’s slipped marginally this year. -Steve Goldstein

By Adam Clark Netflix regained its position as a stock-market darling over the past 12 months as the market applauded its profit and subscriber growth. However, there are reasons to think the streaming platform might have peaked for now, according to Citi analysts. Netflix stock has climbed 48% over the past 12 months through to Monday’s close. It’s a rally that has Citi analyst Jason Bazinet turning cautious and lowering his rating on the stock to Neutral from Buy, while keeping a $500 target price. Netflix shares were down 2.0% at $475.21 in premarket trading on Tuesday. “We see three potential risks. First, we believe 2024 revenue estimates may be a tad too high. Second, we see scope for 2025 content investments to exceed Street estimates. Third, we cannot rule out potential acquisitions,” wrote Bazinet in a research note. Consensus expectations are for Netflix’s revenue growth to accelerate from 6%

In a recent development, Netflix Inc. (NASDAQ:NFLX) has been reported to be considering revenue-generating strategies for its gaming division. The current games are available to all subscribers without additional charges. What Happened: As per a recent exclusive by the Wall Street Journal, Netflix’s top executives have been engaging in discussions regarding the potential monetization of its gaming services, sources familiar with the matter said. The proposed strategies include in-app purchases, charging for more sophisticated games, and giving access to games to subscribers of Netflix’s newer ad-supported tier. These discussions mark a possible shift in Netflix’s strategy, which has previously refrained from incorporating ads or in-app purchases in its games. The company’s Co-Chief Executive, Greg Peters, had previously stated that the focus was on providing a unique gaming experience, unencumbered by monetization concerns, for game creators.

Netflix, Inc. (NASDAQ: NFLX) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 12/22/2023 1.33% DZ Bank → $495 Downgrades Buy → Hold 12/21/2023 7.47% Wedbush → $525 Reiterates Outperform → Outperform 12/18/2023 12.59% Morgan Stanley $475 → $550 Maintains Overweight 10/19/2023 -2.76% Morgan Stanley $430 → $475 Upgrades Equal-Weight → Overweight 10/19/2023 -1.74% JP Morgan $455 → $480 Maintains Overweight 10/19/2023 -5.83% Guggenheim → $460 Reiterates Buy → Buy 10/19/2023 7.47% Wedbush → $525 Reiterates Outperform → Outperform 10/19/2023 -4.81% Truist Securities $430 → $465 Upgrades Hold → Buy 10/19/2023 -2.76% Oppenheimer $470 → $475 Maintains Outperform 10/19/2023 -17.3% Rosenblatt $400 → $404 Maintains Neutral 10/19/2023 4.4% Keybanc → $510 Upgrades Sector Weight → Overweight 10/17/2023 -11.97% Truist Securities $485 → $430 Maintains Hold 10/16/2023 -33.47% Benchmark → $325 Reiterates Sell → Sell 10/13/2023 — Wolfe Research Downgrades Outperform → Peer Perform

Netflix (NASDAQ:NFLX) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 12/18/2023 11.86% Morgan Stanley $475 → $550 Maintains Overweight 10/19/2023 -3.4% Morgan Stanley $430 → $475 Upgrades Equal-Weight → Overweight 10/19/2023 -2.38% JP Morgan $455 → $480 Maintains Overweight 10/19/2023 -6.45% Guggenheim → $460 Reiterates Buy → Buy 10/19/2023 6.77% Wedbush → $525 Reiterates Outperform → Outperform 10/19/2023 -5.43% Truist Securities $430 → $465 Upgrades Hold → Buy 10/19/2023 -3.4% Oppenheimer $470 → $475 Maintains Outperform 10/19/2023 -17.84% Rosenblatt $400 → $404 Maintains Neutral 10/19/2023 3.72% Keybanc → $510 Upgrades Sector Weight → Overweight 10/17/2023 -12.55% Truist Securities $485 → $430 Maintains Hold 10/16/2023 -33.9% Benchmark → $325 Reiterates Sell → Sell 10/13/2023 — Wolfe Research Downgrades Outperform → Peer Perform 10/11/2023 -18.65% Piper Sandler $440 → $400 Maintains Neutral 10/11/2023 -12.55% Morgan Stanley $450 → $430 Maintains Equal-Weight 10/09/2023 -20.68% Goldman