UPDATE: Netflix (NFLX) PT Lowered to $562 at Piper Sandler

January 21, 2022 4:53 AM EST
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Price: $189.14 -0.9%

Rating Summary:
    25 Buy, 34 Hold, 8 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 12 | Down: 18 | New: 23
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(Updated - January 21, 2022 6:37 AM EST)

Piper Sandler analyst Thomas Champion lowered the price target on Netflix (NASDAQ: NFLX) to $562.00 (from $705.00) while maintaining a Overweight rating.

The analyst comments "This was a challenging quarter for our NFLX thesis. While the Op Margin speed bump seems mostly explainable by FX, the 1Q subs guidance is admittedly weaker than expected. Results could be erratic for another 2-3 quarters as the post-pandemic growth cadence is re-established. But, overall we think the subscriber growth opportunity remains early days. UCAN posted its best 4Q net add result in 3 years, demonstrating the growth potential of NFLX's most mature and competitive geography. The other regions we think look nascent and likely to return worldwide net adds to the 20MM+ annual growth range. It remains early in the transition away from linear TV and opportunities like gaming and merchandising have yet to take hold. We lower our estimates post quarter and our PT moves to $562 from $705. Reiterate OW."


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Analyst Comments, Analyst PT Change