This Analyst Remains Bullish on Netflix Stock Despite Q1 Subs Disaster

TipRanks2022-04-21

There’s no two ways about it, Netflix (NFLX)served up a dog’s meal for its latest quarterly earnings. Investors took a sniff of what was on offer in Q1 and turned away, leaving shares to crash hard in...

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Comments

FaithZeng83
2022-04-21
FaithZeng83
Hmmm
GggSlimeR
2022-04-21
GggSlimeR
Nice , but
DragonLee
2022-04-21
DragonLee
Goood...
KPTan
2022-04-21
KPTan
Tq for sharing
Swoosh
2022-04-21
Swoosh
The big drop is mainly due to exit from Russia.
Remotecam
2022-04-21
Remotecam
Punished for overstating guidance. $Netflix(NFLX)$

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Investors took a sniff of what was on offer in Q1 and turned away, leaving shares to crash hard in...</p>\n\n<a href=\"https://www.tipranks.com/news/article/this-analyst-remains-bullish-on-netflix-stock-despite-q1-subs-disaster/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"NFLX","symbol_name":"奈飞","start_time":0,"source_url":"https://www.tipranks.com/news/article/this-analyst-remains-bullish-on-netflix-stock-despite-q1-subs-disaster/","article_id":"1197631749","we_media_id":null,"thumbnails":[],"rights":{"source":"lsy1606183248679","url":"https://www.tipranks.com/news/article/this-analyst-remains-bullish-on-netflix-stock-despite-q1-subs-disaster/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=1197631749","pubTimestamp":1650532548,"sourceInfo":{"source_id":"lsy1606183248679","name":"TipRanks"},"weMediaInfo":null,"summary":"There’s no two ways about it, Netflix (NFLX)served up a dog’s meal for its latest quarterly earnings","collect":0,"end_time":0,"defaultTopTitle":"tipranks.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"NFLX":"奈飞"},"translate_title":"尽管第一季度遭遇灾难，这位分析师仍然看好Netflix,Inc.股票","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NFLX":0.9},"content_text":"There’s no two ways about it, Netflix (NFLX)served up a dog’s meal for its latest quarterly earnings. Investors took a sniff of what was on offer in Q1 and turned away, leaving shares to crash hard in the subsequent session.It was mostly bad news for the streaming giant, with the headline being the first instance of Netflix losing subscribers in a decade. Netflix lost 200,000 subs in the quarter, while the Street was expecting 2.5 million additions. Making matters worse, the company also said it anticipates losing another 2 million subs in Q2. Wall Street was expecting 2.6 million adds.Revenue also came in below expectations; at $7.87 billion, the figure missed the consensus estimate by $70 million. Although offering respite from the negativity, the company posted a beat on the bottom-line as EPS of $3.53 beats the analysts’ forecast of $2.89.The company put the lackluster performance down to a combination of factors, including closing the service down in Russia, broadband penetration, macro headwinds and password sharing.By Netflix’ estimations, in over 100 million households worldwide – including in 30 million UCAN households – password sharing is a thing. As part of its efforts to kickstart growth again, the company plans on monetizing multi-household sharing and over the coming year will try out new paid sharing features. The company is also considering reversing its no ads stance and will be looking into the possibility of having commercials on the platform with the addition of another membership tier.Looking at the positives, Canaccord’s Maria Ripps highlights the “strong engagement” seen in the quarter, and while the analyst concedes the stock faces a rough time, she remains positive on Netflix’ long-term prospects.“Shares are likely to remain volatile as investors digest the near-term challenges,” said the 5-star analyst, “although we see multiple levers available to Netflix to reaccelerate growth and drive enhanced profitability as the shift from linear to streaming video consumption continues.”To this end, Ripps kept her Buy rating intact but lowered the price target from $600 to $400. Following Wednesday’s meltdown, the new target still implies ~80% upside potential. Ripps stays upbeat, more so than several of her colleagues who have been changing their NFLX tune. The stock now has a Hold consensus rating based on 26 Hold recommendations, 10 Buys and 3 Sells. 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