Netflix (NFLX) Apptopia Data Shows a Slowdown, Before Adjusting for Russia - JPMorgan

JPMorgan analyst Doug Anmuth reiterated an Overweight rating and $605.00 price target on Netflix (NASDAQ: NFLX) noting that the strong data seen earlier in the quarter is slowing.

The analyst stated "Following a stronger than expected start to 1Q, data has slowed in recent weeks, but our analysis of Apptopia tracking through early March still suggests NFLX is running ahead of plan. If NFLX were to conclude 1Q at its recent pace, we believe Net Adds could be 4M+, down from the 5M+ implied by our regression in mid-February, but above the 2.5M guide. The 4M+ is also before factoring in suspension of services in Russia, which could reduce subscribers by hundreds of thousands (we estimate 300k)."

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 $331.01 yesterday.

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