Netflix (NFLX) PT Lifted to $125 at Needham & Company Post Q3
Needham & Company analyst Laura Martin reiterated a Buy rating and raised her price target on Netflix (NASDAQ: NFLX) to $125.00 (from $111.00) following third quarter results after the close.
Martin commented, "NFLX reported 3Q15 results yesterday, with revenue of $1.7B, a zero variance from our estimate, and EPS of $0.07, a zero variance from our and consensus estimates. However, US sub adds were light. We lower our estimates for 4Q15, in line with updated management guidance, but raise our FY16 estimates and our target price based on: 1) pricing power, 2) margin expansion, 3) new international market rollouts, and 4) aggressive original content strategy that creates library upside. We also raise our target price to $125 (from $111)."
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Shares of Netflix closed at $110.23 yesterday.