NETFLIX Shares Soar After BofA Reaffirms Buy Rating
June 14, 2023
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The global streaming giant Netflix ($NASDAQ:NFLX) has seen its shares soar after Bank of America (BofA) reaffirmed its Buy rating on the stock. This restatement by BofA was met with enthusiasm by investors, driving the stock up on the market. It boasts a wide selection of genres from which to choose, and its library of content continues to expand.
This suggests that the investment bank has a bullish outlook on Netflix’s future prospects, and is expecting a further increase in share price in the coming months. This news has certainly been welcomed by investors, with Netflix’s shares soaring on the back of this restatement by BofA.
Share Price
On Tuesday, NETFLIX shares soared after Bank of America reaffirmed its buy rating on the stock. The opening price for NETFLIX was $430.0 and it closed at $435.7, representing an increase of 2.8% from the prior closing price of $424.0. Investors have also been encouraged by the recent launch of its mobile app on Apple and Android devices, as well as the introduction of new features such as Top 10 lists and personalized content recommendations. With more potential projects on the horizon, NETFLIX appears to be well-positioned for further success in the coming months. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Netflix. NETFLIX_Shares_Soar_After_BofA_Reaffirms_Buy_Rating”>More…
| Total Revenues | Net Income | Net Margin |
| 31.91k | 4.2k | 13.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Netflix. NETFLIX_Shares_Soar_After_BofA_Reaffirms_Buy_Rating”>More…
| Operations | Investing | Financing |
| 3.28k | -2.09k | -352 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Netflix. NETFLIX_Shares_Soar_After_BofA_Reaffirms_Buy_Rating”>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 49.49k | 27.66k | 46.65 |
Key Ratios Snapshot
Some of the financial key ratios for Netflix are shown below. NETFLIX_Shares_Soar_After_BofA_Reaffirms_Buy_Rating”>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 14.2% | 20.1% | 17.3% |
| FCF Margin | ROE | ROA |
| 9.2% | 16.2% | 7.0% |
Analysis
Analyzing NETFLIX’s financials with GoodWhale, we can see that the company is classified as a ‘rhino’, meaning it has achieved moderate revenue or earnings growth. Investors who might be interested in this type of company would be those looking for growth opportunities, as NETFLIX is strong in its growth and profitability. However, NETFLIX is weak in terms of its assets and dividend, which could be a deterrent to some investors. The GoodWhale health score for NETFLIX is 5/10, indicating that the company might be able to pay off debt and fund future operations. This score considers NETFLIX’s cashflows and debt, so investors should consider these metrics as they make decisions about investing in the company. More…
Peers
It has a library of movies and TV shows to choose from. Disney, Paramount, and FuboTV are all streaming services that offer movies and TV shows. Netflix is the most popular of these services.
– The Walt Disney Co ($NYSE:DIS)
The Walt Disney Company has a market capitalization of 186.02 billion as of 2022 and a return on equity of 4.53%. The company operates in the media and entertainment industry and is known for its film and television productions, as well as its theme parks and resorts. Disney also owns and operates a number of cable and broadcast television networks, including ABC, ESPN, and the Disney Channel.
– Paramount Global ($NASDAQ:PARA)
Paramount Global has a market cap of 12.6B as of 2022. The company’s ROE is 18.54%. Paramount Global is a leading provider of global logistics and transportation services. The company offers a full range of logistics and transportation services, including air and ocean freight forwarding, warehousing, trucking, and custom clearance. Paramount Global also offers a wide range of value-added services, such as product sourcing, order management, and supply chain management.
– FuboTV Inc ($NYSE:FUBO)
FuboTV Inc is a television streaming company that offers over 100 live channels. As of 2022, the company has a market capitalization of 681.89 million dollars and a return on equity of -43.27%. The company’s primary service is providing live streaming of television content, however, they also offer a cloud DVR service and a social TV platform. The company is headquartered in New York City.
Summary
Investment analysis of Netflix has been largely positive. Bank of America recently reiterated its “Buy” rating for the company, indicating strong potential for its stock price. Analysts have pointed to Netflix’s strong growth in streaming subscribers as a key factor in its optimistic outlook. The company continues to expand its library of content and is pursuing initiatives in both international markets and original content production.
Netflix has also demonstrated a strong ability to monetize its streaming services, leveraging subscription prices and strategic advertising tactics to increase revenue. Overall, the stock carries a bullish sentiment among analysts and investors alike, with a bright future ahead.
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