Netflix shares their Biggest Jump in four years
- Netflix Stock Soared
- The stock jumped as much as 15% to $577.77 per share
- It is the largest leap for the stock since it closed up 19% in October 2016
- Just a day earlier, the streaming giant revealed in it Q4 2020 earnings report that it was considered stock buybacks and had surpassed 200 million subscribers for the first time.
Netflix stocked soared a lot as 15% Wednesday to quickly trade at an all-time high, a day after the company revealed in its Q42020 earnings report that it was considering stocks buybacks and had surpassed 200 million subscribers for the first time.
It is the largest jump since the company’s stocked closed up 19% on October 2016
We’ve gone from a historical bear on NFLX to a card-carrying bull” wells Fargo analysist said Wednesday in a note to clients. The firm also upgraded it price target to %700 per share, up from $510. At least 15 other firms also hiked their price targets.
Netflix said it expects to become cashflow after 2020, helping to make the bull case for analysts.
“we remain bulls on the NFLX story as NFLX offers consumers an increasing compelling unique entertainment experiencing virtually any device/o commercials at a still relatively low cost,” Pivotal Research Group analyst said in a note Wednesday.
Netflix has benefited from the stay-at-home boom, since the pandemic has left millions in need of daily entertainment in the comfort of their homes. That likely helped push is paid subscribers count to more than 200 million for the first time. it reached 100million subscribers in 2017.
The Platform growth also, comes as streaming wars continue to heat up with competition from AppleTv +, Discovery+ HBO Max from AT&T’s WarnerMedia and Peacock from CNBC parent NBCUNIVERSAL. ViacomCBS’s Paramount+ is set to launch in March
We continue to believe and accept to bear the case around competition hindering the long-term success of NFLX is overblown,” Jefferies analyst said Tuesday. “some competitors will succeed, some won’t, but the big picture is that there will be multiple winners within the OTT streaming space, and we expect NFLX to remain at the top of the food chain.