Netflix’s return to growth in the third quarter as well as top executives’ comments on its upcoming advertising tier led multiple Wall Street analysts to boost their stock price targets. “The dark days are over,” “the worst appears behind it” and “the sky, at least temporarily, is not completely falling on the key subscriber flywheel” were among the cacophony of takes to arrive in investor notes after the Oct. 18 disclosure.
The stock of the streamer, led by co-CEOs Reed Hastings and Ted Sarandos, also jumped more than 10 percent in early trading, reaching $265.18 a few minutes into the trading session. Netflix had added 2.4 million subscribers for a total of 223 million global subs, a relief after two consecutive quarters of subscriber losses.
[The “return to growth” analysis somehow neglects Netflix’s shift to a robust defense of free speech and artistic creativity. That, however, at least arrested the downward spiral that woke-Netflix had started. — Ed]
Join the conversation as a VIP Member