Netflix Projects $3B Ad Revenue, Jefferies Cuts Price Target to $110
NFLX is trading near its 52-week low of $75.01 (9.0% above the low).
Summary
Netflix projects its ad revenue will roughly double to $3 billion this year, a significant financial update for a key growth segment. This builds on the May 19th news of explosive user growth in its ad-supported tier. Separately, Jefferies cut its price target for NFLX from $128 to $110, citing potential subscriber risks. The company's own revenue guidance is a more direct indicator of business performance than an analyst's target change.
At the time of this announcement, NFLX was trading at $81.74 on NASDAQ in the Technology sector, with a market capitalization of approximately $345.3B. The 52-week trading range was $75.01 to $134.12. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Wiseek News.