Piper Jaffray has an Overweight rating and a $280 price target on shares of Netflix NFLX.
In a note to investors, Piper Jaffray writes, "Early Q2 web traffic data from ComScore suggests that Netflix sub adds may be
tracking ahead of our estimates. The web traffic data for Netflix.com for the first month of Q2 (April) shows traffic growth accelerating vs. Q1 (up 62% y/y in April vs. up 41% in all of Q1). We are modeling for y/y growth in domestic gross sub
adds to decelerate by 15 percentage points in Q1 (65% y/y in Q2 vs. 80% y/y in Q1). We believe estimates are generally conservative and the ComScore data is a positive indication for Netflix's Q2 subscriber growth."
Shares of NFLX gained $1.22 yesterday to close at $237.53, a gain of 0.5%.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Posted In: Analyst ColorPrice TargetAnalyst RatingsConsumer DiscretionaryInternet RetailPiper Jaffray
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in