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Current netflix stock price6/24/2023 ![]() ![]() This product is for educational purposes only. Rather, he dollar-cost averages into cheap funds and index funds and holds them forever in tax-advantaged accounts.Disclaimer: Past performance is no guarantee of future performance. In his current role at Kiplinger, Dan writes about equities, fixed income, currencies, commodities, funds, macroeconomics, demographics, real estate, cost of living indexes and more.ĭan holds a bachelor's degree from Oberlin College and a master's degree from Columbia University.ĭisclosure: Dan does not trade stocks or other securities. He's also written for Esquire magazine's Dubious Achievements Awards. and contributed to Maxim magazine back when lad mags were a thing. ![]() Once upon a time – before his days as a financial reporter and assistant financial editor at legendary fashion trade paper Women's Wear Daily – Dan worked for Spy magazine, scribbled away at Time Inc. As a senior writer at AOL's DailyFinance, Dan reported market news from the floor of the New York Stock Exchange and hosted a weekly video segment on equities. He has written for The Wall Street Journal, Bloomberg, Consumer Reports, Senior Executive and Boston magazine, and his stories have appeared in the New York Daily News, the San Jose Mercury News and Investor's Business Daily, among other publications. If nothing else, the outlook for NFLX stock hasn't been this bright in a while.ĭan Burrows is Kiplinger's senior investing writer, having joined the august publication full time in 2016.Ī long-time financial journalist, Dan is a veteran of SmartMoney, MarketWatch, CBS MoneyWatch, InvestorPlace and DailyFinance. That said, Netflix is armed with a credible plan to reinvigorate growth, and some early results to back it up. Whether shares can get back to their market-beating ways over the intermediate term remains to be seen. The good news is that the bottom for Netflix stock looks to be solidly in the rearview mirror. If you go by the wisdom of the analyst crowd, the outlook for Netflix over the next 12 to 18 months is something of a coin flip. Valuation, however, only tends to work its magic over the longer term. That's not a bad price to pay for a company expected to generate average annual EPS growth of 24% over the next three to five years. Shares in Netflix change hands at less than 24 times analysts' 2023 earnings per share (EPS) estimate. After Wednesday's rally, Netflix stock shot past the Street's average target price of $261.33.Īs for the valuation, the stock does appear compellingly priced on a forward earnings basis. And we'll have to wait and see how NFLX recommendations shake out over the next few days. That works out to a consensus recommendation of Buy, albeit with mixed conviction. Of the remaining analysts, 14 rate it at Strong Buy, one says Buy, three call it a Sell and two have it at Strong Sell. Of the 42 analysts issuing opinions on NFLX tracked by S&P Global Market Intelligence, 22 call it a Hold. Why Domino's Pizza and Delta Air Lines Hint at a Stronger EconomyĪs noted, Raymond James is very much in the majority on the Street. "While we still have some reservations around the scaling of new monetization initiatives and the competitive environment, the path to upside looks more feasible now than three months ago." "This quarter's report goes a long way toward calming fears spurred by first-half 2022 subscriber declines," notes Marok. Splitting the difference is Raymond James analyst Andrew Marok, who, like most of the Street, rates Netflix stock at Market Perform (the equivalent of Hold). "While investor optimism is built with respect to the ad supported tier (correlated with the recent stock outperformance in the run-up to Q3 earnings), we still see an elevated competitive industry level against a post-pandemic backdrop while a potential for a weaker consumer spending dynamic remains into 2023," writes Goldman Sachs analyst Eric Sheridan, who slaps a rare Sell recommendation on the stock. Other analysts, while encouraged by management's initiatives, were less impressed, and remain concerned about intense industry competition and looming recession next year. "The 100 million 'account borrowers' Netflix has counted represent a clear and present growth opportunity that Netflix will soon be in a position to exploit." "We believe we now have visibility into a subscriber growth inflection point next year given that Netflix management has confirmed both the early 2023 introduction of its new measures designed to better monetize account sharing, and the early November timing of its AVOD tier launch in 12 top markets," writes Kraft in a note to clients. ![]()
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