“In short, Netflix management has executed its password sharing initiative in excess of our prior assumptions, has regained content creation momentum in a manner that has muted any post-pandemic growth headwinds and overall industry competition has become more muted in the past six months,” Goldman Sachs said as shares in Netflix edged slightly lower in late morning trading on Wednesday, down 41 cents, or nearly 1 percent, to $441.03.
That comes ahead of Netflix, led by co-CEO Ted Sarandos, getting set to release its latest financial results on July 19. On June 27, Oppenheimer analyst Jason Helfstein pointed to another potential significant revenue generator for Netflix as it continues to refine its overall product mix and pricing worldwide.
Bumping up his share price target to $500, from $450, Helfstein pointed to Netflix possibly phasing out its ad-free ‘Basic’ streaming plan, now being tested in Canada. “We believe a phase-out of the Basic plan could generate an incremental $4.4B for Netflix over a 12-month period,” the analyst wrote in an investment note.
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