Netflix Stock (NFLX): $725 Price Target From JPMorgan

By Amit Chowdhry ● Jan 10, 2022
  • The shares of Netflix Inc (NASDAQ: NFLX) have received a $725 price target from JPMorgan. These are the details.

The shares of Netflix Inc (NASDAQ: NFLX) have received a $725 price target from JPMorgan. And JPMorgan analyst Doug Anmuth is maintaining an “Overweight” rating on the company shares.

Anmuth noted that the reduced near-term subscriber estimates were based on light fourth quarter download data despite the company’s strong content slate. Now Anmuth projects fourth-quarter net additions of 6.25 million for Netflix, down from 8.8 million previously and below the company’s guidance of 8.5 million.

For the first quarter, Anmuth is now modeling 5.5 million net adds, down from a prior estimate of 6.5 million. And he believes Netflix’s fourth-quarter net adds were lumpy saying the company started the quarter with a significant spike and buzz around Squid Game — which was released in late September.

The download growth then slowed and declined into early December before picking up on more favorable seasonality and stronger content releases. Plus he believes softer fourth-quarter data is reasonably well understood among investors.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.