Netflix, Inc. shares reached the $300 mark on Friday and continued their rally to new all-time highs this week. On Monday, Macquarie analysts increased their price target from $276 to $300, citing higher-than-average revenue from 4K trends. TechCrunch also reported that Netflix is adding family-friendly options, such as suitability ratings and PIN codes for content, ahead of The Walt Disney Company’s streaming launch next year.
Many analysts had been concerned that rising content costs would offset revenue growth from new subscribers and price increases. Last quarter, the company put these concerns to rest with much better-than-expected growth in subscribers, including 1.98 million domestic additions and 6.36 million international additions. These figures were well ahead of analyst estimates calling for 1.29 million and 5.05 million, respectively. (See also: Netflix – Up 60% YTD – to Continue Rally: Street Bulls.)
Netflix shares moved sharply higher over the past several days, but traders will be watching these key levels ahead. …read more
Read more here: Netflix Stock May See Consolidation After Breaking $300
Category: NFLX, DIS