Netflix (NFLX) Looks to Rebound Following Its Q1 Report

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Video streaming giant Netflix (NFLX) reports its first-quarter numbers April 16. The company will report after the market close with a consensus for earnings of $0.57 per share on revenue of $4.49 billion. NFLX stock is up 32.3% on the year.

Technical Analysis

NFLX was recently trading at $354.15 down $69.06 from its 12-month high and $122.92 above its 12-month low. InvestorsObserver’s Stock Score Report gives NFLX a 60 long-term technical score and a 47 short-term technical score. The stock has recent support above $320 and recent resistance below $380. Of the 27 analysts who cover the stock 18 rate it Strong Buy, 2 rate it Buy, 6 rate it Hold, 0 rate it Sell, and 1 rate it Strong Sell, NFLX gets a score of 53 from InvestorsObserver’s Stock Score Report.

Analysts' Thoughts

Netflix has been a top stock in recent years as part of the FAANG stocks that have really driven the Nasdaq and overall market to record highs. Tech stocks took a beating at the end of 2018, but most, like NFLX, have already recovered most of last year’s losses. The big news with Netflix at this time is the new streaming service from Walt Disney (DIS) that is aggressively priced to compete with Netflix when it goes live in November of this year. NFLX has sold off on the Disney news, but I see the sell off as temporary as Netflix continues to be the dominant streaming platform and has shown amazing global growth that Disney will struggle to replicate. The street is looking for a positive earnings surprise of 60 cents per share, but it will be the number of subscribers Netflix reports adding both domestically and internationally that will drive the stock post-earnings. If the company can show continued strong subscriber additions investors will quickly overlook the Disney news and push the stock higher. Analysts have an average price target of $396.28 on the stock.

NFLX
About Netflix Inc.

Netflix's primary business is a streaming video on demand service now available in almost every country worldwide except China. Netflix delivers original and third-party digital video content to PCs, Internet-connected TVs, and consumer electronic devices, including tablets, video game consoles, Apple TV, Roku, and Chromecast. In 2011, Netflix introduced DVD-only plans and separated the combined streaming and DVD plans, making it necessary for subscribers who want both to have separate plans.

  • Last Price:
    $374.23
  • Previous Close:
    $381.89
  • Change:
    $-7.66 (-2.01%)
  • Open:
    $381.07
  • Volume:
    6,446,924
  • Average Volume (100 Day):
    10,261,949
  • Market Capitalization:
    $163.6 B
  • Day's Range:
    $373.27 - $381.90
  • Dividend Yield:
    0.00%
  • 52-week Range:
    $423 - $231.23
  • P-E:
    129.20
  • EPS:
    $2.79
  • Earnings Date:
    7/15/19
  • Ex Dividend Date:
    N/A
  • Sector:
    Consumer Cyclical
  • Industry:
    Media - Diversified
  • Analyst Average Recommendation:
    Moderate Buy

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