MKM Partners Reiterates Buy on Netflix, Inc. (NFLX) Following 1Q
MKM Partners reiterated a Buy rating and $320.00 price target on Netflix (NASDAQ: NFLX) following the company's 1Q earnings report. NFLX reported another strong result and guided Q2 above consensus across key metrics. Revenue and profitability metrics were largely in line, though streaming contribution was $68mn higher than expected, which management attributes to timing of content spending.
The stock was strong in after-hours trading, about $324 per share by 7:30pm ET. Analyst Rob Sanderson thinks the stock will trade based on investor perception of longer-term earnings power and that continued subscriber momentum, pricing power and confidence in margin leverage will be reinforced by Q1 results/Q2 guidance.
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 $307.78 yesterday.