Netflix stock, which has slumped in recent months, perked up Thursday as analysts gave a vote of confidence in the streaming giant’s prospects. Shares reached $276 halfway through Thursday…
Shares reached $276 halfway through Thursday’s trading day, their highest level in three weeks. After a discouraging second-quarter earnings report in July, the stock has retreated but it remains essentially flat for the year to date.
Goldman’s note included a detailed chart outlining the competitive threats Netflix has faced from consumer entertainment offerings over the past decade-plus. The bar chart shows that as these new offerings have hit the market, Netflix has only continued to gain subscribers and increase prices in the U.S.
Competition in the streaming arena is a key variable in regard to valuing Netflix stock. The longtime streaming leader will face a new level of competition in the coming months. Disney and Apple will launch subscription streaming outlets in November and WarnerMedia and NBCUniversal are preparing their own initiatives for next spring.
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