Netflix To Beat Fiscal Q4 Estimates Says Monness Crespi

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

“This story has a long runway of growth in coming years,” White was quoted as saying by StreetInsider. The analyst reiterated a buy rating and a $730 price target on the stock. 

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.”

While Netflix shares initially rose Tuesday, it has been unable to sustain any upside momentum and is currently flat on the day. 

Elsewhere, Tuesday saw KeyBanc analyst Justin Patterson lower his firm’s price target on Netflix shares to $620 from $725 to reflect his lower estimates. However, the analyst maintained an overweight rating.

Netflix’s next earnings report is set to be released next week.