![]() He highlighted that Netflix shares fell in Wednesday after-market trading “on what we would call an expectations correction, not a fundamentals correction.” Management’s third-quarter revenue outlook for $8.5 billion came in below Street expectations, “but we attribute this mostly to the timing of the average revenue per user (ARPU) ramp,” Mahaney noted. While the streamer’s shares hit $441.04 in early Thursday trading, down 7.7 percent, after a slew of recent price target increases, some analysts also raised their targets on the stock following the earnings report, reiterating their confidence, while others predicted the shares would likely take a breather after a strong first half of 2023.Įvercore ISI analyst Mark Mahaney, for example, reiterated his “outperform” rating on shares of Netflix, while boosting his Netflix stock price target from $400 to $550 in a report aptly entitled “A Mother of a Quarter,” in which he lauded “strong second-quarter earnings per share results in the face of very high expectations.” With Netflix shares closing Wednesday slightly higher at $477.59 before the quarterly earnings and subscriber update, followed by a sharp drop below the $450 mark in after-market activity, some lamented mixed results, while others noted high expectations and focused on continued strength and upside in Netflix’s business, arguing that patient investors will see more upside. ![]() ![]() How 'Rustin' and Native Son Teamed to Reclaim the Civil Rights Activist's History as a Rallying Call Netflix is forecasting ARM before currency impacts to be flat to slightly down in the third quarter compared with the same period in 2022, which disappointed some observers. The company, led by co-CEOs Ted Sarandos and Greg Peters, reported better-than-expected 5.9 million new subscribers to hit a global total of 238.4 million and $1.5 billion in earnings on revenue of $8.2 billion.īut among the key takeaways highlighted by investors and Wall Street experts were also slightly lower-than-expected second-quarter revenue and third-quarter revenue growth guidance, amid lower-than-estimated ARM, or average revenue per membership. Please consult a registered investment advisor to guide you on your financial decisions.Global streaming giant Netflix kicked off Hollywood’s second-quarter earnings season with the typical bang after the market close on July 19, with the stock taking a hit in after hours, and Wall Street analysts updating their subscriber and financial models overnight. Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Price to Free Cash Flow: 197 (Tesla: 39.5). ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |