Strong subscriber growth lifts Netflix revenue, profit

Anna Jefferson
April 17, 2018

Aegis reaffirmed their hold rating on shares of Netflix (NASDAQ:NFLX) in a report published on Monday morning. Hastings said the company still has a long way to go to compete with the likes of YouTube and noted that Netflix's ability to raise prices depends on providing more value than competitors. Finally, Credit Suisse Group set a $224.00 price target on Netflix and gave the stock a "neutral" rating in a report on Monday, January 8th. The stock presently has an average rating of "Buy" and a consensus price target of $269.18. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the company. Netflix now has a consensus rating of "Buy" and an average target price of $272.16. "In our view, this is the reason that cash burn has increased each of the last four years, and is likely the reason that cash burn will continue for the "next several years", as the company has stated", Pachter concludes. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.81. The New York Times also reported last month that Obama was in negotiations with Netflix to produce a series of high-profile shows - like one where he'd moderate conversations on hot button political issues, such as immigration or voting rights. During the same period in the previous year, the company earned $0.40 earnings per share.

Total revenue from its streaming business totalled US$3.60 billion for the quarter with the United States accounting for US$1.82 billion and worldwide US$1.78 billion.

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Exceeding user addition forecasts, Netflix's first quarter (Q1) earnings were in line with expectations while revenue bettered estimates. 2,726,459 shares of the stock were exchanged. The shares were sold at an average price of $283.39, for a total transaction of $198,373.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Hastings further distanced Netflix from the data privacy concerns surrounding tech companies at the moment by suggesting his company is more of a media company - more in the same vein as say, The Walt Disney Co. Following the completion of the transaction, the director now owns 7,332 shares in the company, valued at $1,928,316. The disclosure for this sale can be found here. "But, again, we're really pretty different from the pure tech companies", commented Netflix CEO Reed Hastings in earnings call. Balentine LLC grew its position in Netflix by 1,020.4% in the 3rd quarter. The average cost of a Netflix membership rose 14 percent during that time, and customer ranks swelled to 125 million. SG Americas Securities LLC now owns 25,426 shares of the Internet television network's stock worth $4,881,000 after buying an additional 675,267 shares in the last quarter. The brokerage presently has a "buy" rating on the Internet television network's stock. Tybourne Capital Management HK Ltd. boosted its holdings in Netflix by 43.4% during the fourth quarter.

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Meanwhile, Netflix has raised its USA streaming prices twice since 2014. Indeed, this resulted in 12% ASP growth for the domestic segment. Additionally, the Cannes film festival recently announced that Netflix movies are banned.

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