![]() ![]() “Netflix indicated that ad-supported unit economics were in line or better than ad-free plan.” And he emphasized that management noted limited switching from other tiers so far. “Early ad-supported tier adoption bolstered member trend strength, but was not the sole driver, with password sharing initiatives to roll out broadly in late first quarter fueling sequential revenue acceleration,” Morris noted. Guggenheim analyst Michael Morris, who has a “buy” rating on Netflix, boosted his stock price target by $305 to $375 in a report titled “Show Us the Money! Member Trends, Cash Flow Outlook Delight Investors.” In particular, we are bullish on the long-term potential of advertising, which management stated could eventually reach 10 percent of total revenues.” ![]() In the bullish note, Reif Ehrlich wrote, “we believe password sharing along with the continued rollout of its AVOD service will drive an acceleration in growth throughout ‘23 in revs/subs and beyond. 19, has a “buy” rating on Netflix with a price target raised from $370 to $410. The streaming giant, which ended 2022 with 230.75 million global subscribers, had after Thursday’s market close called 2022 “a tough year, with a bumpy start but a brighter finish,” adding: “We believe we have a clear path to reaccelerate our revenue growth, continuing to improve all aspects of Netflix, launching paid sharing and building our ads offering.” Many on Wall Street also see upside for the company’s shares after a sharp drop in 2022, arguing that the streamer is getting its groove back in terms of finding hit content, such as Addams Family spinoff Wednesday, and in terms of overall performance.Įlizabeth Debicki and 'The Crown' Cast on Filming Diana's Final Days: "I Cried For Real When She Died and I Cried When I Saw It on Screen"īank of America’s Jessica Reif Ehrlich, who moderated the streaming giant’s earnings call Jan. Amid renewed bullishness, Netflix’s stock was up 6.8 percent in early Friday trading, at $337.16. Netflix was the talk of Wall Street again on Friday, as several analysts raised their stock price targets after dissecting the streaming giant’s better-than-expected addition of 7.66 million subscribers in the fourth quarter, early momentum of its advertising-supported subscription tier, plans for a broader password-sharing crackdown and Reed Hastings’ decision to drop his co-CEO title to focus on the role of executive chairman.
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