Not only the technology, but also the Netflix $NFLX+1.7% stream has taken us to new heights.🚀
Shares of Netflix $NFLX+1.7% rose again today after new data from analytics platform Antenna showed that US registrations for the streaming service rose the most in at least four and a half years even after a controversial crackdown on password sharing. According to Antenna, Netflix recorded the four biggest days for US registrations between May 25 and 28 since the company began tracking the data in 2019.
The streaming service recorded nearly 100,000 daily registrations on May 26 and 27 after Netflix expanded its crackdown to the U.S. and more than 100 other countries and territories on May 23.
"A Netflix account is for one household," the company wrote in a blog post. "Anyone living in that household can use Netflix wherever they are - at home, on the road, on vacation - and enjoy new features like Transfer Profile and Access and Device Management." The company said users can share their account with someone who doesn't live with them for an additional $7.99 per month.
Despite many users voicing their concerns , Wall Street analysts remained optimistic with the initiative, highlighting its role as a longer-term growth driver along with the recently launched ad-supported layer of the platform.
On Friday, Pivotal Research raised its price target on Netflix stock to $535 per share from $425, the highest price target on Wall Street.
Wells Fargo raised its price target to $500 a share from $400, while JPMorgan raised its target to $470 from $380 earlier this week.
JPMorgan estimates that of the roughly 100 million users who share passwords, Netflix will monetize 14 million by the end of 2023, 26 million by the end of 2024 and 33 million by the end of 2025.
Interesting numbers and price target estimates. How do you view these projections? I'm personally not invested and I'm hoping for its competitor $DIS-1.0% where I'm invested. Here the price already seems high to me, but if the price target predictions come true, there is also money to be made here. 😊
Thanks for the update.
I do not own shares of $NFLX+1.7% and do not plan to buy them. However, at today's prices, I wouldn't buy.
I think I like $DIS-1.0%, which I recently bought, better.
Agreed, I have $DIS-1.0% as well and I'm thinking about buying some more. The $NFLX+1.7% one is high right now, I rather just wanted to share information and point out how fast it is rising now.
Yeah, I get it.
$DIS-1.0% is at a really nice price right now, so I took advantage of it.
For me, the NFLX stock price is now overvalued. As such, the company is definitely on the right track after a number of changes.
$NFLX+1.7% for me like the other Adam writes overblown already at the moment. But just for the record... :D Who else here is looking forward to the new Witcher series? :D
Yes it is, I don't buy either but maybe on trade only daily you could find something there, the jumps are often big. Otherwise I'm looking forward to, unfortunately the last series with Hendy Cavil and then the next series Wednesday. 😁
Yeah, maybe so, but the routes are beyond me for now. :D I'm so sorry to hear that, Cavil leaving will be a terrible blow to the series, he was pulling it off...
For me, the NFLX stock price is now overvalued. As such, the company is definitely on the right track after a number of changes.
Agreed. He's expensive for me, too. It's more information for people holding it or even someone considering it. As you say, it's on the right track, but it probably wanted to jump in sooner. 😊