Market Pulse Archives

July 10, 2020, 9:49 a.m. EDT

Netflix's stock rises toward another record, extending market cap gains above competitors Disney, AT&T

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Netflix Inc. (NFLX)
  • X
    Walt Disney Co. (DIS)
  • X
    AT&T Inc. (T)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

Shares of Netflix Inc. /zigman2/quotes/202353025/composite NFLX -2.82% rallied 1.4% in morning trading Friday, to trade in record territory, after an upbeat research note from Jefferies analyst Alex Giaimo. The stock closed Thursday at the fourth record so far this month. The streaming video company now has a market capitalization of $226.5 billion, above the market caps of competitors such as Walt Disney Co. /zigman2/quotes/203410047/composite DIS -0.68% at $213.3 billion, AT&T Inc. /zigman2/quotes/203165245/composite T +0.60% at $212.1 billion and Comcast Corp. /zigman2/quotes/209472081/composite CMCSA -0.14% at $180.0 billion. Giaimo said a survey of nearly 1,500 Netflix subscribers showed that 90% of Indian subscribers and 70% of U.K. subscribers were will to pay more for subscriptions, while U.S. subscribers appear more "tapped out." The survey also showed that Netflix is favored over competitors, with many citing they prefer Netflix for its original content, which helps mitigate churn and allows for greater control over content spend. In addition, the survey showed that engagement has increased "significantly" since the COVID-19 outbreak, with the percentage of U.S. subscribers watching Netflix for more than 10 hours a week increasing to 38% from 16% pre-COVID-19. Giaimo reiterated his buy rating and $520 stock price target. The stock has soared 59.1% this year, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.06% has slipped 2.3%.

/zigman2/quotes/202353025/composite
US : U.S.: Nasdaq
$ 494.73
-14.35 -2.82%
Volume: 5.91M
Aug. 7, 2020 4:00p
P/E Ratio
83.47
Dividend Yield
N/A
Market Cap
$218.18 billion
Rev. per Employee
$2.22M
loading...
/zigman2/quotes/203410047/composite
US : U.S.: NYSE
$ 129.93
-0.89 -0.68%
Volume: 16.09M
Aug. 7, 2020 4:02p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$234.79 billion
Rev. per Employee
$295,532
loading...
/zigman2/quotes/203165245/composite
US : U.S.: NYSE
$ 30.02
+0.18 +0.60%
Volume: 30.42M
Aug. 7, 2020 4:02p
P/E Ratio
18.34
Dividend Yield
6.93%
Market Cap
$213.89 billion
Rev. per Employee
$637,332
loading...
/zigman2/quotes/209472081/composite
US : U.S.: Nasdaq
$ 42.81
-0.06 -0.14%
Volume: 10.35M
Aug. 7, 2020 4:00p
P/E Ratio
17.17
Dividend Yield
2.15%
Market Cap
$195.56 billion
Rev. per Employee
$513,625
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,351.28
+2.12 +0.06%
Volume: 2.28B
Aug. 7, 2020 5:10p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.