{"id":28017,"date":"2023-10-19T14:34:13","date_gmt":"2023-10-19T14:34:13","guid":{"rendered":"https:\/\/microloannexus.com\/news\/netflix-stock-surges-16-after-wall-street-buys-into-ad-driven-subscriber-growth\/"},"modified":"2023-10-19T14:34:14","modified_gmt":"2023-10-19T14:34:14","slug":"netflix-stock-surges-16-after-wall-street-buys-into-ad-driven-subscriber-growth","status":"publish","type":"post","link":"https:\/\/microloannexus.com\/?p=28017","title":{"rendered":"Netflix stock surges 16% after Wall Street buys into ad-driven subscriber growth"},"content":{"rendered":"<div id=\"RegularArticle-ArticleBody-6\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-6-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"><\/span><\/p>\n<div class=\"group\">\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\">Netflix<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> shares surged 16% on Thursday following a promising quarterly earnings report. <\/p>\n<p>The streaming giant reported a number of victories including a 70% jump in its new ad-supported subscription tier.<\/p>\n<p>As for overall subscribers, Netflix added 8.76 million subscribers for the third quarter, significantly higher than the 5.49 million that Wall Street estimated. It&#8217;s the biggest jump in subscribers since the second quarter of 2020, when Covid stay-at-home restrictions drove new sign-ups. <\/p>\n<p>Wednesday&#8217;s report extended a return to growth for Netflix \u2014 after the company in April 2022 recorded its first net subscriber loss in over a decade, creating fears that the market had been saturated \u2014 and several analysts celebrated the positive news. <\/p>\n<p>Analysts at Morgan Stanley upgraded the stock to overweight and raised its price target to $475.<\/p>\n<p>&#8220;We believe Netflix will deliver the objectives it set out a year ago, accelerate revenue growth back to double digits and expand margins,&#8221; Morgan Stanley said in a Thursday analyst note.<\/p>\n<p>Truist analyst Matthew Thornton said in a Thursday note that the password-sharing crackdown could continue to propel subscriber growth into the next year. The firm also upgraded Netflix to a buy rating and raised its price target from $430 to $465.<\/p>\n<p>&#8220;We upgrade to Buy with our thesis predicated on ongoing password sharing benefits (into 2024), advertising ramp (long-term), and share buybacks ($10b added), with top 3 tent-poles by 2025 (Squid Game, Wednesday, Stranger Things), with video games a free call option, and with optional growth levers available to NFLX,&#8221; Thornton said in the note.<\/p>\n<\/div>\n<div>\n<div class=\"Collapsible-proliveCollapsableContainer\" role=\"button\" tabindex=\"0\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"256\" height=\"256\" viewbox=\"0 0 256 256\" aria-labelledby=\"title desc\" role=\"img\" focusable=\"false\" preserveaspectratio=\"xMinYMin\" class=\"Collapsible-stockChartIcon\"><title>Stock Chart Icon<\/title><desc>Stock chart icon<\/desc><g transform=\"translate(1.4065934065934016 1.4065934065934016) scale(2.81 2.81)\"><path d=\"M 87.994 0 H 69.342 c -1.787 0 -2.682 2.16 -1.418 3.424 l 5.795 5.795 l -33.82 33.82 L 28.056 31.196 l -3.174 -3.174 c -1.074 -1.074 -2.815 -1.074 -3.889 0 L 0.805 48.209 c -1.074 1.074 -1.074 2.815 0 3.889 l 3.174 3.174 c 1.074 1.074 2.815 1.074 3.889 0 l 15.069 -15.069 l 14.994 14.994 c 1.074 1.074 2.815 1.074 3.889 0 l 1.614 -1.614 c 0.083 -0.066 0.17 -0.125 0.247 -0.202 l 37.1 -37.1 l 5.795 5.795 C 87.84 23.34 90 22.445 90 20.658 V 2.006 C 90 0.898 89.102 0 87.994 0 z\" transform=\" matrix(1 0 0 1 0 0) \" stroke-linecap=\"round\"><\/path><path d=\"M 65.626 37.8 v 49.45 c 0 1.519 1.231 2.75 2.75 2.75 h 8.782 c 1.519 0 2.75 -1.231 2.75 -2.75 V 23.518 L 65.626 37.8 z\" transform=\" matrix(1 0 0 1 0 0) \" stroke-linecap=\"round\"><\/path><path d=\"M 47.115 56.312 V 87.25 c 0 1.519 1.231 2.75 2.75 2.75 h 8.782 c 1.519 0 2.75 -1.231 2.75 -2.75 V 42.03 L 47.115 56.312 z\" transform=\" matrix(1 0 0 1 0 0) \" stroke-linecap=\"round\"><\/path><path d=\"M 39.876 60.503 c -1.937 0 -3.757 -0.754 -5.127 -2.124 l -6.146 -6.145 V 87.25 c 0 1.519 1.231 2.75 2.75 2.75 h 8.782 c 1.519 0 2.75 -1.231 2.75 -2.75 V 59.844 C 41.952 60.271 40.933 60.503 39.876 60.503 z\" transform=\" matrix(1 0 0 1 0 0) \" stroke-linecap=\"round\"><\/path><path d=\"M 22.937 46.567 L 11.051 58.453 c -0.298 0.298 -0.621 0.562 -0.959 0.8 V 87.25 c 0 1.519 1.231 2.75 2.75 2.75 h 8.782 c 1.519 0 2.75 -1.231 2.75 -2.75 V 48.004 L 22.937 46.567 z\" transform=\" matrix(1 0 0 1 0 0) \" stroke-linecap=\"round\"><\/path><\/g><\/svg><\/p>\n<div class=\"Collapsible-proLivePlayerCloseOrExpand\"><\/div>\n<\/div>\n<p><iframe title=\"Netflix stock chart after third-quarter earnings. \" src=\"https:\/\/www.cnbc.com\/appchart?symbol=NFLX&amp;range=1D&amp;type=mountain&amp;embedded=true&amp;%24DEVICE%24=undefined\" height=\"460\" scrolling=\"no\" style=\"border:0;width:100%\"><\/iframe><\/p>\n<p>Netflix stock chart after third-quarter earnings. <\/p>\n<\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.cnbc.com\/2023\/10\/19\/netflix-stock-surges-after-earnings-report-jump-in-subscribers.html\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Netflix shares surged 16% on Thursday following a promising quarterly earnings report. The streaming giant reported a number of victories including a 70% jump in its new ad-supported subscription tier. As for overall subscribers, Netflix added 8.76 million subscribers for the third quarter, significantly higher than the 5.49 million that Wall Street estimated. It&#8217;s the<\/p>\n","protected":false},"author":1,"featured_media":28018,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[],"class_list":{"0":"post-28017","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.12 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Netflix stock surges 16% after Wall Street buys into ad-driven subscriber growth | Micro Loan Nexus<\/title>\n<meta name=\"description\" content=\"Netflix shares surged 16% on Thursday following a promising quarterly earnings report. 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