Upgrades and increased price targets have rained down on Netflix after Tuesday evening’s earnings and the company’s declaration that it will turn cash-flow positive in 2022 and won’t need more debt financing.leader zoomed past $570 in the early going, up 14%, and at one point reached a new high of $577.77. Trading volume was nearly four times normal levels.
Eric Sheridan of UBS upgraded Netflix to “buy” from “neutral,” explaining that he sees it as a “long-term winner as more consumer habits shift globally toward a handful of streaming media platforms.” The quarterly earnings report “will act as a further validation point,” he added.
Netflix “offers consumers an increasingly compelling unique entertainment experience on virtually any device, without commercials at a still relatively low cost,” the analyst wrote. Michael Morris of Guggenheim said the earnings report was a “flex” on competitors. Benjamin Swinburne of Morgan Stanley cited the cash-flow guidance as a major turning point. “After a debt funded business model shifting from licensed to original programming over the past five years, Netflix has scaled to a self-funded and now a highly free cash flow generative business. This will strengthen its competitive position, reduce the risks to the business, and reinforce our ‘overweight’ view.
to see how the Covid-19 pandemic has been nothing but a major boon to the company’s operations,” he wrote. “As much of the world is still shuttered in their homes with nowhere to go and nothing to spend their money on, consumer adoption of streaming services has been accelerated by years. With theatrical releases still few and far between and a lack of new scripted programming, Netflix’s advantage vs.
...and this morning, I got an email from netflix about the price going up. 🤷🏻
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock market correction: Wall Street veteran warns of 10%-15% dropWall Street veteran Peter Kraus breaks down why investors should expect about a 10% to 15% market correction ahead — and shares his thoughts on the GameStop drama, SPAC mania, and bitcoin craze. If I had just one thin dollar for every time I’ve heard this I could buy me that OCEANFRONT CONDO I’ve been yearning for.
Source: BusinessInsider - 🏆 729. / 51 Read more »