Netflix, Inc. (NFLX): Google Search Trends Show Potential for Sub Upside - Piper Jaffray
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Piper Jaffray analyst, Michael Olson, reiterated his Overweight rating on shares of Netflix (NASDAQ: NFLX) after analyzing Google search trends focused on the company and finding results that suggests upside for both international and domestic subs in Q4.
The analyst stated "we are modeling 9.3% y/y domestic sub growth in Q4 and our search index points to 14.8% growth. For int'l, we are modeling 38.7% y/y sub growth and our index points to 54.5% growth". The analyst was quick to point out that the numbers should not be the focus but the results imply directional improvement.
No change to the price target of $240.
Shares of Netflix closed at $184.21 yesterday.
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