Netflix stock prices4/27/2024 ![]() Previously, Netflix had guided for a full-year 2023 operating profit margin range of 18% to 20%. Not only that, but Netflix’s profit margins are improving. With that, the company raised its total subscriber count to 247.2 million. During 2023’s third quarter, Netflix added a whopping 8.76 million customers. This time around, Netflix doesn’t need any rising tide to lift the company. In 2021, it was the broader market’s rising tide that lifted all tech-stock boats. Sure, Netflix has a number of big-money competitors in the streaming space, but the numbers demonstrate Netflix’s resilience during these challenging times. If any factor could galvanize NFLX stock back to its $700-ish 2021 peak next year, it would be Netflix’s subscriber growth. ![]() So, investors should still consider Netflix a FAANG favorite, even if some people wouldn’t call the company “magnificent.” What Could Catalyze NFLX Stock to $700 in 2024? Yet, recently released data shows that Netflix has prevailed and offered outstanding value to the company’s shareholders. Like other entertainment content providers, Netflix has had to deal with writers’ strikes and inflation, among other pressures this year. NFLX stock has a real chance at revisiting its 2021 peak price and then moving even higher from there. This doesn’t mean Netflix has lost its glory, though. And you're actually going golfing this weekend, but that's a whole other topic.Content streaming provider Netflix (NASDAQ: NFLX) is a FAANG member but not one of the “Magnificent Seven” technology companies of 2023. ![]() I don't know if- There's no surprise that you are a sucker for that, and that you would tune in. SEANA SMITH: I don't know if you're exactly- Yeah. So that live sports element that Netflix has really been trying to bring on, I don't know if the golf programming has been working the same that they expected. So that being one thing, and they had to make sure that they also included that within the risks.īut also, the other spending element here, the investment in live sports, that could drive down long-term margin outlooks, offset partially by higher forecasted subscribers, likely significantly expanded advertising opportunity as well. Netflix has a huge content obligation, about $22 billion worth of commitments there. And there are risks that the company, Pivotal has noted. ![]() And you compare that to some of the mixed reporting, or mixed performance, I should say, from some of the peers on the Street since the start of the year.īRAD SMITH: Just two contingencies I want to point out that they actually mentioned are part of this valuation as well. Even just year to date, gains looking just around 27%. We certainly have been up about 77% over the last year. We've had this steady climb to the upside ever since really the end of October, beginning of November here. That free cash-flow generation being the driving factors of what they think is going to continue Netflix's momentum here to the upside. That strong ARPU number that you were just talking about. They're expecting strong subscriber growth. So ultimately, Netflix not only creating perhaps a de facto standard, but also trying to make sure that it's meeting the expectations of Pivotal who is looking for some big forecasts here on ARPU, that Average Revenue Per User, primary driver of that $65 price-target increase that we saw. I mean, they certainly have set the bar for even activist campaigns, and say, hey, why aren't you doing what Netflix is doing in providing us some of those fat margins. And the analysts behind the call said Netflix has won the streaming war- strong words there- and will outperform estimates for subscriber growth. Pivotal Research Group raising its price target on the stock to $765 from $700. Editor's note: This article was written by Nicholas Jacobino Video TranscriptīRAD SMITH: A new Wall Street high for Netflix.
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