Loop Capital Reiterates Hold Rating on Netflix (NFLX)

Loop Capital analyst Alan Gould reiterated a Hold rating and $1,000.00 price target on Netflix (NASDAQ: NFLX).

The analyst comments "The upfronts underscored NFLX's growing lead over traditional media companies. NFLX showcased a wide array of content - primarily scripted, with some unscripted along with select WWE and NFL offerings. In contrast, traditional media companies emphasized sports coverage and introduced a limited number of new shows, mostly for their streaming platforms. NFLX is expected to roll out advanced ad targeting capabilities and other new advertising tools soon. While its guidance to double ad revenue this year appears conservative, advertising remains a minor contributor to overall performance. User engagement in the first half has been solid - +5% in Q1 and +14% so far in Q2 for its top shows - despite a lack of major hits. The second half is poised for stronger performance, with new seasons of Netflix’s three biggest hit series scheduled, including the finales for two of them. Despite our bullish view of the company, we are not raising our estimates and remain Hold rated based on valuation."

For an analyst ratings summary and ratings history on Netflix click here. For more ratings news on Netflix click here.

Shares of Netflix closed at $1177.98 yesterday.

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