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Netflix Data Has Slowed But Still Ahead of Plan According to J.P. Morgan -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — J.P. Morgan analyst Doug Anmuth told investors in a note that Netflix Inc (NASDAQ:) data has slowed in recent weeks after a stronger than expected start to the first quarter. 

According to the analyst, however, Apptopia tracking from early March shows that NFLX has been ahead of its plan. Apptopia provides mobile app analytics through its data intelligence platform.

Anmuth said that “if NFLX was to close 1Q at the current pace, we believe net adds could be 4M+. This is down from the 5M+ implied in our regression mid-February but higher than the 2.5M guide.”

He said that 4,000,000 was before Russia was suspended, but the team estimates this will result in a reduction of subscribers to around 300,000.

Anmuth, despite slowing down, is bullish on the stock and has an Overweight rating. The $605 price target was also maintained.

Michael Nathanson from MoffettNathanson has lowered Netflix’s price target to $350 instead of $375. However, the analyst maintains a neutral rating.

Netflix shares traded 3% higher on Tuesday.

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