Published: Thu, April 20, 2017
Culture | By Julio Duncan

Streaming Deals Like Amazon's NFL Deal Not 'Smart For Us — Netflix

Streaming Deals Like Amazon's NFL Deal Not 'Smart For Us — Netflix

Twenty-four analysts recommend buying Netflix's stock, while two recommend selling and 15 have neutral ratings. 2,154,889 shares of the company traded hands. Nisa Investment Advisors LLC raised its stake in Netflix by 1.8% in the first quarter. The firm has a 50 day moving average price of $143.50 and a 200-day moving average price of $130.61.

Michael Graham, ‎managing director and senior internet analyst at Canaccord Genuity, told CNBC's "Closing Bell" on Monday that he thinks Wall Street is bullish on Netflix's outlook.

Netflix stock was down roughly 4% in the immediate aftermath of the earnings announcement, but rebounded and was up 1.4% in after hours trading on Monday. The company expects its subscribers to touch 3.2 million in the second quarter this year, higher than analysts' expectations for 2.45 million.

Netflix did not immediately return CNBC requests for comment. The business's revenue was up 34.7% on a year-over-year basis.

However, he feels that the full subscriber count for the first half of this year could end up being closer to his first-half estimate because he predicts a commanding performance in the second quarter.

Netflix is to spend over $1 billion on marketing this year as it looks to boost subscriber numbers. "We're pleased with our worldwide growth and we've got a lot of growth left in the U.S.as well". The original version of this news story can be read at https://transcriptdaily.com/2017/04/19/netflixs-nflx-buy-rating-reaffirmed-at-bank-of-america-corp.html. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The disclosure for this sale can be found here.

Hedge funds and other institutional investors have recently bought and sold shares of the company. This missed analyst estimates of 5.27 million and its own guidance of 5.2 million. Edmond DE Rothschild Italia SGR SPA increased its stake in shares of Netflix by 0.9% in the third quarter. Reilly Financial Advisors LLC raised its position in Netflix by 75.9% in the first quarter.

A lot of this has to do with the fact that the latest season of the runaway hit House of Cards was pushed back, which attracted millions of new users to come rolling in during the recent quarter. Finally, CWM LLC raised its position in Netflix by 474.3% in the first quarter. Netflix is working towards becoming a global entertainment network.

Like this: