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0.00160898126081228 0.00248000871027444 0.00791183266594883 0.00932725227132509 0.0226104208756246 0.0343450962364355 0.0343620328812862 0.0361839319630781
Stock impact report

Netflix target price raised to new Street high of $490 at Pivotal [MarketWatch]

Netflix, Inc. (NFLX) 
Last netflix, inc. earnings: 4/21 04:00 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.netflix.com/investor-relations
Company Research Source: MarketWatch
Pivotal Research Group analyst Jeff Wlodarczak elevated his price target on Netflix Inc.'s stock to $490 from $425. His new target is higher than all those listed on FactSet. The price-target change came as Wlodarczak "materially" raised his subscriber estimates, citing "likely higher gross subscribers and lower subscriber churn boosted by global consumer 'stay-at-home' orders around COVID-19." He thinks the crisis is "cementing Netflix's global [direct-to-consumer] dominance" as the company spent heavily to create a robust library of programming. "The company appears to operate in a virtuous cycle, as the larger their subscriber base grows (and their [average revenue per user] increases) the more they can spend on original content, which increases the potential target market for their service (and reduces existing subscriber churn)," he wrote. Netflix shares are off 0.2% in premarket trading but the stock has increased 28% so far this year as the S&P 500 has dropped 12%. Show less Read more
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