) is set to report its fiscal third quarter earnings on Wednesday after the market closes. Investors are looking for updates on the company's"We're still in the crawl of the crawl-walk-run stage, so it is not easy to build an ad business from scratch. We got a lot of work to do," Netflix CFO Spencer Neumann said about the ad tier last month.
Cahall lowered his price target on the stock to $460 a share, down from the prior $500, citing the impact of near-term investments. He did maintain his Overweight rating, however, explaining he's "positive on long-term growth." Netflix shares, which have fallen about 20% over the past three months, are currently trading around $355.
The Netflix logo is displayed at the entrance to Netflix Albuquerque Studios film and television production studio lot in Albuquerque, New Mexico on October 13, 2023. 'That blew up in my face': This college student lives free in her uncle's investment property — but still collects rent from her friends and pockets the cash.