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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Netflix, Inc.    NFLX

NETFLIX, INC.

(NFLX)
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Can Netflix stay one of Wall Street's favorite pandemic stocks? Results due Thursday

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07/14/2020 | 01:33pm EDT

LOS ANGELES, July 14 (Reuters) - Netflix Inc will tell investors on Thursday how home-bound audiences and a lack of live sports have boosted its membership rolls even as streaming competition rises to unprecedented levels.

Shares of the online video pioneer, trading close to an all-time high at $517.94 on Tuesday, have jumped more than 73% since mid-March when much of the world was urged to stay home to help slow the spread of the novel coronavirus. During the same time, the S&P 500 has gained 32.7%.

In April, Netflix wowed Wall Street by reporting twice the number of expected signups for the first quarter, bringing its worldwide total to 182.9 million customers. The company tried to lower expectations by stressing that the pandemic-related boost likely would fade later.

Industry analysts still expect robust growth for April through June. The average forecast for new paying customers is 8.1 million globally, according to IBES data from Refinitiv.

Netflix has forecast 7.5 million customers for the period, which included the release of "Space Force," "Too Hot to Handle," a Jerry Seinfeld comedy special and a new season of "Money Heist."

At the same time, movie theaters were closed and major sports leagues canceled live competitions.

Consumers did, however, have several streaming options. Walt Disney Co's Disney+ came online in November, and AT&T Inc launched HBO Max in May.

Netflix boosters believe any pandemic lift will help cement the company's long-term position.

"Investment in high-quality episodic content across all genres and films likely ensures the top spot in the living room over time," Cowen & Co analyst John Blackledge wrote in a research note.

One challenge, however, is that the coronavirus has halted many film and TV productions. Investors will look for an update from April, when Netflix said it had enough programming for 2020 and part of 2021.

Twenty-eight analysts rate Netflix "buy" or "strong buy," while 10 say "hold" and five recommend selling the stock. (Reporting by Lisa Richwine; Additional reporting by Neha Malara; Editing by Aurora Ellis)

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL 0.62% 26828.47 Delayed Quote.-6.57%
NASDAQ 100 0.38% 11096.539063 Delayed Quote.26.59%
NASDAQ COMP. 0.35% 10941.165728 Delayed Quote.21.51%
NETFLIX, INC. 2.21% 509.64 Delayed Quote.57.51%
S&P 500 0.36% 3306.51 Delayed Quote.2.34%
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Financials (USD)
Sales 2020 24 846 M - -
Net income 2020 2 794 M - -
Net Debt 2020 9 790 M - -
P/E ratio 2020 82,8x
Yield 2020 -
Capitalization 225 B 225 B -
EV / Sales 2020 9,44x
EV / Sales 2021 8,08x
Nbr of Employees 8 600
Free-Float 98,4%
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Technical analysis trends NETFLIX, INC.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 41
Average target price 513,05 $
Last Close Price 509,64 $
Spread / Highest target 22,6%
Spread / Average Target 0,67%
Spread / Lowest Target -60,8%
EPS Revisions
Managers
NameTitle
Wilmot Reed Hastings Chairman, President & Co-Chief Executive Officer
Theodore A. Sarandos Co-CEO, Director & Chief Content Officer
Gregory K. Peters Chief Operating & Product Officer
Spencer Adam Neumann Chief Financial Officer
Adriane C. McFetridge Engineering Director
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