Spectator records Weird stuff It wasn’t enough to stop Netflix shares from falling on Tuesday.
Guidance analyst Matthew Harrigan cut them from “hold” to “sell” at a new price target of $157. fourth-quarter profit. “Which is probably not fully reflected in previous Q2 guidance or analyst consensus.”
Emphasizing the broader reasons for its decline, Harrigan wrote: “We are skeptical of a steady rally in Netflix stocks, even as the bulls talk (or talk) about their 14.1x price/earnings estimate. 2023 (15.4 times the reference point). ). . He added that “the problem is slowing growth,” for example, pointing to trends in free cash flow.
In his report, Harrigan also pointed to challenges for consumers that could affect streamer subscriber trends and Netflix’s image. “In addition to users being more sensitive to inflation and pricing challenges, the ongoing negative oversupply of Netflix members’ losses, including even Prince Harry and Megan, is a moderate growth problem.”
Commenting on the details of his investment thesis, Harrigan wrote, “We believe that Netflix is now a media name because other streamers are refining their interfaces and also have big data expertise as well as significantly deeper IP libraries from Disney and Disney. Warner Bros. . . In Discovery. Management needs to contain the total costs and better execute their high-tech billion dollar cash programming costs, whatever they want.bridgeton One month to get to know the competition. It can be difficult to limit spending in the mature US market as competition intensifies while aggressively investing in emerging Asian markets, particularly India.
A Wall Street analyst also commented on Monday about the appointment of Ken Barker as Netflix’s chief accountant. “We’re not outraged about it,” Harrigan said. Prior to June 10, the chief accountant was JC Berger, a 15-year Netflix veteran and global and financial auditor. Ken Barker joins Electronic Arts, where he was the last senior vice president of finance from August 2021, and senior vice president and chief accountant from June 2003 to August 2021. We don’t think the change is particularly relevant to Netflix gaming ambitions.
Netflix shares fell just before the market opened on Tuesday.
Source: Hollywood Reporter
Camila Luna is a writer at Gossipify, where she covers the latest movies and television series. With a passion for all things entertainment, Camila brings her unique perspective to her writing and offers readers an inside look at the industry. Camila is a graduate from the University of California, Los Angeles (UCLA) with a degree in English and is also a avid movie watcher.
