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Netflix To Beat Fiscal Q4 Estimates Says Monness Crespi -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — Brian White, analyst at Moness Crespi, told investors Monday that Netflix Inc. (NASDAQ:) will surpass its fourth-quarter earnings expectations in a research note.

StreetInsider quotes White saying that “This story is capable of sustaining substantial growth over the next few years.” Analyst White maintained a Buy rating on the stock with a $730 price target. 

White added: “Given Wall Street’s concerns that Netflix will fall short of its 4Q:21 paid global streaming net add guidance of 8.50 million, we believe it is timely for the company to consider shelving this metric altogether, one that was useful in the younger days of the service but has since become more of burden than a benefit.”

Netflix shares rose initially Tuesday but it was unable to maintain any upward momentum and is now flat. 

Justin Patterson from KeyBanc reduced Tuesday’s target price on Netflix shares to $620, down from $725. His lower estimates reflect this. The analyst however maintained an overweight rating.

Next week will see the release of Netflix’s earnings report.

 

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