Benchmark reiterated its sell rating on Netflix Inc. stock on Tuesday, and said it remains cautious even after a Sunday report from Bloomberg that the...
Benchmark reiterated its sell rating on Netflix Inc. stock NFLX on Tuesday, and said it remains cautious even after a Sunday report from Bloomberg that the streaming service has gained about 1 million active users of its ad-supported offering after two months on the market.
“Advertising initiatives and the nettlesome password sharing crackdown should be ARM accretive but in Benchmark’s view largely position the stock to offset SVOD competitive pressure,” analyst Matthew Harrigan wrote in a note to clients. While Benchmark is expecting the ad alternative to become a significant member share component, the company is operating in the same difficult streaming market condition as peers, although its operating margins benefit from maturity, compared with newer entrants.
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