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Netflix, Inc. (NFLX)

  • May. 15, 2013, 9:54 AM
    More on Netflix: Some positive sell-side notes are helping shares rally to levels last seen in Aug. '11 (NFLX +4.2%). RBC, which launched coverage with an Outperform on March 5, has raised its PT to $250, arguing EPS could eventually top $10 - the 2014 consensus is $3.13. Also, BTIG (Buy, $250 PT) reports a survey of 427 people in line at a Bluth Frozen Banana Stand set up to promote the May 26 launch of Arrested Development found 86% were Netflix subscribers, and 63% of the remainder said they would/are likely to subscribe because of AD (is this a case of selection bias?).
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  • May. 13, 2013, 2:13 PM
    "I think Netflix (NFLX +4.1%) could be this decade's Amazon," says Whitney Tilson in a Yahoo talk (video). Though Tilson admits to "trimming" his position during Netflix's run-up, he still considers it undervalued relative to other media providers - "They're trading at $400 per subscriber in a world of $1,000 per sub" - and argues its scale gives it a big edge - "Who else is going to spend $3 billion a year for streaming content?" Of course, many of the firms valued at $1,000/sub are getting a lot more than $8/month. Netflix investors seem to be betting the company's library and customer loyalty will allow it to raise prices over time. (U.K. deals)
  • May. 6, 2013, 9:57 AM
    Shares of Netflix (NFLX -3.3%) hit some turbulence after chatter over a potential secondary offering crops up. There isn't anything definitive out from the company, but with content costs rising and share price up a clean double for the year the move wouldn't shock many analysts.
  • Apr. 23, 2013, 12:56 PM
    Midday top 10 gainers: SCON +118%. MEMS +49%. CZR +29%. NFLX +24%. ARL +18%. CPLA +18%. VECO +17%. HSTM +17%. SANM +16%. ILMN +15%.
    Midday top 10 losers: CPRX -15%. IIVI -13%. UNTK -13%. ABIO -13%. CASM -10%. EFUT -9%. GASS -9%. TAX -8%. SIFY -7%. USTR -7%.
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  • Apr. 23, 2013, 9:32 AM
    Netflix (NFLX +24.6%) continues to skyrocket as sell-side PTs surge following a Q1 beat fueled by higher margins (aided by a Y/Y drop in content cash outflows) and domestic streaming adds at the high end of Netflix's guidance; for now, the Street is willing to overlook Q2 guidance for a sizable Q/Q drop in domestic streaming adds. The results demonstrate Netflix's model "continues to show operating leverage," says Cantor, raising its PT to $230. On the earnings call, Reed Hastings admitted Hulu and Amazon have been "bidding more aggressively" over the last 12 months - that could explain the pending Viacom deal expiration. Content liabilities stood at $5.7B at the end of Q1, up $100M Q/Q.
  • Apr. 23, 2013, 9:10 AM
    Premarket gainers: MEMS +50%. SCON +46%. NFLX +24%. VECO +14%. COH +12%. ILMN +10%. ARMH +9%. CZR +8%. STM +6%. AMRN +6%.
    Losers: IRWD -10%. RSH -7%. IOC -6%.
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  • Apr. 22, 2013, 5:04 PM
    An interesting nugget from Reed Hastings' letter to shareholders is that a very low number of people signed up for a free month-long trial to the service just to watch House of Cards only to then quit after a round of binge viewing. According to the exec, only 8K left - compared to the millions who stayed. NFLX +25.5% AH.
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  • Apr. 22, 2013, 4:15 PM
    More on Netflix (NFLX): The company smashes Q1 estimates as it had no trouble adding to paid domestic and global subscriber totals. Netflix added 2.03M net domestic streaming subscribers in FQ1, compared to 2.05M last quarter and 1.7M a year ago. International subscribers came in at 1.02M, compared to 1.81M last quarter and 1.12M a year ago. DVD memberships dropped slightly to about 8M. The company issues FQ2 guidance of revenue of $665M-$673M and sees a jump in total members to 29.4M to 30.05M. NFLX +19.3% AH. (company letter .pdf)
  • Apr. 22, 2013, 4:08 PM
    Netflix (NFLX): Q1 EPS of $0.31 beats by $0.13. Revenue of $1.02B (+17% Y/Y) in-line. Shares +17% AH. (PR)
  • Apr. 22, 2013, 10:18 AM
    An upgrade to Neutral from B. Riley helps Netflix (NFLX +3.1%) rally ahead of today's Q1 report; the firm cites the 17% drop seen in shares over the last month as a reason for changing its stance. It's worth noting B. Riley cut Netflix to Sell on July 25, 2012, as shares got crushed thanks to poor Q3 guidance. Netflix closed that day at $60.28, 64% below its current price. (earlier)
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  • Apr. 19, 2013, 12:04 PM
    An upgrade to Accumulate from National Alliance Capital helps Netflix (NFLX +1.9%) add to this year's big gains. The firm predicts Netflix "will continue to grow subscribers at an accelerated rate." National Alliance upgraded LinkedIn, another Internet high-flyer, earlier this week.
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  • Apr. 15, 2013, 9:55 AM
    BTIG's Richard Greenfield, bane of Facebook and Pandora bulls, has started coverage on Netflix (NFLX +2.6%) with a Buy and $250 PT. Greenfield expects Netflix's value proposition and original content to "drive better than expected subscriber growth and moderate churn." He also declares Netflix's content expenses to be "sufficiently high," leading to operating leverage for future revenue growth. Wouldn't it have been better to make this thesis 3 months ago? (Goldman) (Evercore)
  • Apr. 11, 2013, 5:36 PM
    After-hours top gainers, as of 5:15 p.m.: ASH +6%. NFLX +3%. TLAB +2%. PCYG +2%. HBI +2%.
    After-hours top losers: HRS -7%. SBY -3%. JBHT -3%. KRO -2%. CMRX -2%.
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  • Apr. 11, 2013, 5:00 PM
    That was quick: Shortly after Netflix (NFLX) disclosed it may share company info via Facebook/Twitter, Reed Hastings has used his Facebook page to boast Netflix streamed 4B hours of video over the last 3 months. The July '12 Facebook post that (temporarily) got Hastings in hot water with the SEC bragged of 1B hours in the month of June. Shares +3.2% AH.
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  • Apr. 11, 2013, 9:51 AM
    Goldman's Heath Terry has raised hit PT on Netflix (NFLX +2.9%) to $184 from $125, albeit while reiterating a Neutral. "We believe the addressable market of subscribers is better defined by the number of "connected consumers" than households," says Terry, who thinks Netflix's domestic streaming sub base will grow to 53M in 5 years from a current 22.8M. He's lowering his 2013 EPS estimate, but significantly raising his 2014 and 2015 estimates. Yesterday, Evercore launched coverage with an Underperform. (Pac Crest)
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  • Apr. 10, 2013, 12:27 PM
    Netflix (NFLX -0.4%) underperforms after Evercore starts coverage with an Underweight and $115 PT. The firm thinks the launch of Intel's Web TV service will lead to higher programming costs and less pricing power. Intel's service is being pitched as an alternative to traditional pay-TV services rather than a direct Netflix rival, and will undoubtedly cost much more than the $8/month charged for Netflix.
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Company Description
Netflix Inc operates as an Internet television network providing TV shows & movies which include original series, documentaries & feature films. The Company has three segments namely Domestic streaming, International streaming & Domestic DVD.
Sector: Services
Country: United States