Several Wall Street's analysts raised their share-price targets for Netflix after the streaming giant beat Wall Street's third-quarter earnings expectations.
KeyBanc analyst Justin Patterson boosted his price target on Netflix to $690, citing the company's third quarter results saying it reflected "solid" performance from returning and new originals. Patterson kept his overweight rating on the shares.
JPMorgan analyst Doug Anmuth raised price target on Netflix to $750 from $705, and reiterated his overweight rating on the shares. According to Anmuth, the results and guidance reflect the benefits of content and distance from the pandemic He also cited that the ongoing shift from linear TV to on-demand streaming.
However, Deutsche Bank analyst Bryan Kraft downgraded Netflix shares to hold from buy, while maintaining his $590 price target. The analyst said that while he agrees with the market's optimism about Netflix's fourth-quarter content and the optionality it brings to net subscriber additions, he also believes that a fourth-quarter subscriber beat is already more than priced into the stock price.
NFLX saw its Momentum Indicator move above the 0 level on May 08, 2023. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 87 similar instances where the indicator turned positive. In of the 87 cases, the stock moved higher in the following days. The odds of a move higher are at .
The Moving Average Convergence Divergence (MACD) for NFLX just turned positive on May 09, 2023. Looking at past instances where NFLX's MACD turned positive, the stock continued to rise in of 48 cases over the following month. The odds of a continued upward trend are .
NFLX moved above its 50-day moving average on May 05, 2023 date and that indicates a change from a downward trend to an upward trend.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where NFLX advanced for three days, in of 301 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 253 cases where NFLX Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
The RSI Indicator has been in the overbought zone for 2 days. Expect a price pull-back in the near future.
The Stochastic Oscillator has been in the overbought zone for 2 days. Expect a price pull-back in the near future.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where NFLX declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
NFLX broke above its upper Bollinger Band on May 30, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating outstanding price growth. NFLX’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. NFLX’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 89, placing this stock better than average.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (8.052) is normal, around the industry mean (4.165). P/E Ratio (42.553) is within average values for comparable stocks, (73.685). Projected Growth (PEG Ratio) (1.959) is also within normal values, averaging (2.627). NFLX has a moderately low Dividend Yield (0.000) as compared to the industry average of (0.059). P/S Ratio (5.590) is also within normal values, averaging (111.485).
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a provider of online movie rental subscription services
A.I.dvisor indicates that over the last year, NFLX has been loosely correlated with DIS. These tickers have moved in lockstep 61% of the time. This A.I.-generated data suggests there is some statistical probability that if NFLX jumps, then DIS could also see price increases.
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