October 19th, 12:02pm.
Many analysts maintain skepticism about the streaming service's ability to continue on a trajectory of growth despite the company's strong third quarter results.
The company's shares are down from their highs.
After consecutive quarters of subscriber losses, the company added over two million new paid subscribers, far exceeding its own estimates.
Several initiatives aimed at increasing revenue, including cracking down on password sharing and more details on its cheaper service with ads slated to debut in November, were unveiled by the company.
The earnings report was given an "A+" grade by the head of research at Manhattan Venture Partners, but some major banks aren't buying it.
Goldman and Bank of America both maintained their Underweight ratings for the company, with Goldman raising its price target from $182 to $200 and Bank of America keeping its target at $196.
We remain skeptical on the net benefits of Basic with Ads and its password sharing initiatives, according to an analyst from Bank of America.
Increased competition among streamers and the potential for a weaker consumer spending dynamic are some of the hurdles thatNetflix faces.
A majority of the time. It is the amount of stock that is down from the peak. The day after it reported its first quarter results, it plummeted in value.
Align Technology has been named the worst performer of the year by the S&P. When consumers ordered stay-at- home orders, they turned to the streamer for entertainment.
Hastings said on Tuesday's earnings call that they are done with shrinking quarters.
After months of decline, the streaming service has added over 2 million new subscribers.
It's the first time in ten years that the company has lost subscribers.
It is now the worst-performing stock in the S&P 500 as shares fall.
All Rights Reserved © 2024
