Tag Archives: nflx

Netflix skeptic turns bullish on Internet TV service

A Netflix skeptic has changed his tune on the Internet TV network. BTIG analyst Richard Greenfield upgraded his rating on Netflix stock late Monday to buy from neutral and set a 12-month price target of 600. Netflix (NFLX) stock was up 2.5%, near 450, in afternoon trading on the stock market today. “Our September 2013 downgrade of Netflix  (NFLX) to neutral based on valuation was clearly a mistake,” Greenfield said in a research report. Netflix stock has risen about 45% since that downgrade. Greenfield now forecasts Netflix to reach 100 million subscribers worldwide by 2017. Netflix ended the second quarter with 50 million streaming video subscribers worldwide. The company is scheduled to report Q3 earnings on Wednesday after the market close. “Netflix is focusing on expanding its overseas footprint and investing heavily in higher-quality content to accelerate its subscriber growth trajectory,” Greenfield said. The company is leading the shift from linear…

Netflix set to reveal gains from European expansion

Internet television service Netflix (NFLX) is poised to report a surge in new subscribers from its European expansion when it discloses third-quarter earnings on Wednesday after the market close. Netflix has forecast adding 2.36 million international subscribers and 1.33 million U.S. streaming subscribers in Q3. Those additions would give it a worldwide total of 53.74 million streaming subscribers, up from 50.05 million at the end of Q2. Netflix entered France, Germany and four other European markets in late September. It is targeting the more than 63 million broadband households in those six European countries. Cantor Fitzgerald analyst Youssef Squali says that he expects strong subscriber growth with the possibility of an upside surprise from international markets. He rates Netflix stock as a buy with a price target of 500. Netflix stock dropped 2% on Friday to 452.08, but it’s up 23% in 2014 and has dramatically outperformed the S&P 500….

Video: Netflix Rival Redbox Instant Bites The Dust

Redbox Instant was no match for the Netflix juggernaut. Outerwall (OUTR), the operator of Redbox DVD rental kiosks, and Verizon Communications (VZ) announced Saturday that they are pulling the plug on Redbox Instant, a joint venture that combined Redbox DVD rentals and Verizon streaming video. The subscription service will shut down on Tuesday. Outerwall said that it will provide details on the end of its joint venture with Verizon when it reports third-quarter financial results on Oct. 30. Netflix (NFLX) stock was up more than 1% on the news, above 464, in afternoon trading on the stock market today . Outerwall and Verizon stocks were both down a fraction.