Netflix stock bounced off a 7-week low after CFRA swings to bullish from bearish, citing multiple positive catalysts.
Shares of Netflix Inc. were set to bounce off a seven-week low on Thursday, after CFRA analyst Kenneth Leon swung to bullish from bearish on the “best-in-class” streaming video giant, citing multiple positive catalysts ahead.
Although... Shares of Netflix Inc. were set to bounce off a seven-week low on Thursday, after CFRA analyst Kenneth Leon swung to bullish from bearish on the “best-in-class” streaming video giant, citing multiple positive catalysts ahead. Although the stock has soared more than 66% since closing at a five-year low of $166.37 on May 11, it was still down 54.0% in 2022, as Netflix suffered subscriber losses for the first time in years after the pandemic-fueled surge ended. The stock was set to suffer its first yearly decline in eight years, and its worst yearly performance since it plunged 60.6% in 2011.
“Catalysts ahead for NFLX are new revenue streams from advertising, new ad-pay plans and new paid sharing efforts to better control sharing of subscription accounts,” Leon wrote in a note to clients. “Besides NFLX’s best-in-class platform for ease in search and personalization, we expect new original content like ‘Emily in Paris’, ‘Glass Onion’…and ‘Blood Origin’ to benefit subscription and reduce churn.
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