Netflix to exceed 100 mn global subscribers over the weekend

Andrew Cummings
April 20, 2017

Perhaps more important, however, is Netflix's subscribers overseas will likely surpass its American subscribers for the first time this year, predicts Michael Olson, an analyst for Piper Jaffray.

Netflix planned to spend a billion dollars this year on marketing aimed at attracting members.

Earlier this month Amazon announced that it would begin streaming football to Amazon Prime members, Netflix subscribers hoping for the same shouldn't hold their breath. Guggenheim reaffirmed a buy rating and set a $173.00 price target (up from $160.00) on shares of Netflix in a research report on Tuesday.


In related news, insider Neil D. Hunt sold 10,000 shares of the firm's stock in a transaction on Monday, February 6th.

Netflix said it expects to add 3.2 million subscribers in the second quarter-more than analysts forecasted-thanks, in part, to popular new programming that premiered near the end of the first quarter, like 13 Reasons Why and Dave Chappelle: Collection 1, which is Netflix's most-viewed comedy special ever. That is up from 81.5 million in the same quarter a year prior.

Netflix had $1.341 billion in cash and cash equivalents (and short-term investments) as of Mar 31, 2017, compared with $1.734 billion as of Dec 31, 2016. Analysts found that Los Gatos earned $178 million on revenue of $2.6 billion in the first three months but Netflix will make $482 million on revenue of more than $11 billion for the entire year. Reilly Financial Advisors LLC raised its position in Netflix by 75.9% in the first quarter.


Canaccord Genuity analyst Michael Graham was one of several who raised his price target for Netflix stock, moving it up to $165 from $160 per share following Monday's earnings report. Vicus Capital bought a new position in Netflix during the first quarter valued at $208,000. Institutional investors and hedge funds own 80.42% of the company's stock. Following the completion of the sale, the general counsel now directly owns 39,214 shares of the company's stock, valued at approximately $5,673,481.52.

Netflix is working towards becoming a global entertainment network. The Company operates through three segments: Domestic streaming, worldwide streaming and Domestic DVD.

But the rise of Netflix and other streaming services, as well as websites like YouTube, has also created more of a demand for more content, expanding the number of shows, movies, and video clips available to audiences, says Dr. Telang at Carnegie Mellon University. The streaming service is also benefiting from original content.


Other reports by iNewsToday

FOLLOW OUR NEWSPAPER