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2015 Emmy Awards Seen as Disappointment for Netflix (NFLX)

September 21, 2015 11:45 AM EDT

Uzo Aduba Emmy Awards (REUTERS/Lucy Nicholson)

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Shares of Netflix (NASDAQ: NFLX) are being left out of today's rally on Wall Street as analysts are expressing disappointment with the company's Emmy Awards showing last night.

At the 67th annual Emmy Awards, Netflix brought home just four Emmys, versus seven last year. Meanwhile, archenemy Amazon (NASDAQ: AMZN) had a surprising five. HBO (NYSE: TWX) was the overall big winner with 43 total awards.

Netflix had a total of 34 nominations versus 31 last year, Amazon had 12 nominations versus zero last year, and HBO had 127 nominations versus 99 last year.

Netflix won for Outstanding Supporting Actress in a Drama Series (Orange Is The New Black, Uzo Aduba) and Outstanding Guest Actor in a Drama Series (House of Cards, Reg Cathey).

Amazon won two key awards, including Outstanding Lead Actor in a Comedy Series (Transparent, Jeffrey Tambor) and Outstanding Director for a Comedy Series (Transparent, Jill Soloway).

Mizuho analyst Neil Doshi expressed disappointment with Netflix's showing. "Given that Netflix is investing heavily in new original content, we would have expected to see more success from these investments," Doshi said.

Further he noted that newer shows like Unbreakable Kimmy Schmidt won no awards and Marco Polo and Daredevil weren’t even nominated.

Other analysts were more sanguine.

"While Netflix's tally is somewhat disappointing, considering last year's seven emmys, it's still a notable performance for an $8.99/mo service, which started in 2012, and long underestimated by larger and more established content creators," Cantor Fitzgerald's Youssef Squali said.

He added that Netflix and Amazon receiving a combined 46 nominations "is a clear indication to us that content created by emerging OTT streaming services is a growing threat to the establishment, and that it's a matter of time before these start rivaling and potentially exceeding their linear cousins, in our view."

Squali also pointed to solid reviews for Netflix's newest original, Narcos. The show won strong ratings/reviews on both Metacritic (critic store of 77/100, user score of 9.2/10) and IMDB (rated 9.1/10), prompting its renewal for a second season, the analyst highlights.

Also, Netflix's aggressive Asian rollout paves the way for a 200-country presence by year end 2016.

Doshi maintained his Neutral rating on shares of Netflix, while Squali reiterated his Buy rating.



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