Netflix Q1 Subscriber Estimates Too High? Analyst Cautions On Elevated Expectations, 'How Big Is The Beat' Mentality
Netflix Q1 Subscriber Estimates Too High? Analyst Cautions On Elevated Expectations, 'How Big Is The Beat' Mentality
Leading streaming company Netflix Inc (NASDAQ:NFLX) is set to report first-quarter financial earnings on April 18.
領先的流媒體公司Netflix公司（納斯達克股票代碼：NFLX）定於4月18日公佈第一季度財務收益。
An analyst sizes up expectations for Netflix's upcoming report.
一位分析師提高了對Netflix即將發佈的報告的預期。
The Netflix Analyst: Piper Sandler analyst Matt Farrell has a Neutral rating. Farrell also raised the price target from $550 to $600.
Netflix分析師：派珀·桑德勒分析師馬特·法雷爾的評級爲中性。法雷爾還將目標股價從550美元上調至600美元。
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The Analyst Takeaways: After a strong fourth quarter from Netflix, expectations are elevated for the streaming giant in the first quarter, Farrell said.
分析師要點：法雷爾說，在Netflix第四季度表現強勁之後，對這家流媒體巨頭在第一季度的期望有所提高。
Sentiment for Netflix went from "better than feared" in the third quarter to "how big is the beat" now, after the fourth-quarter report, he added.
他補充說，在第四季度報告發布後，對Netflix的情緒從第三季度的 “好於預期” 變爲現在的 “節奏有多大”。
"We believe investors are looking for material upside to the 4.5 million net adds number for Q1," Farrell said.
法雷爾說：“我們認爲，投資者正在尋找第一季度450萬淨增量的實質性上行空間。”
Netflix reported 13.12 million net adds in the fourth quarter. Expectations for the company from analyst are net adds down quarter-over-quarter, but above the 1.8 million net adds reported in the first quarter of last year.
Netflix報告稱，第四季度淨增1,312萬個。分析師對該公司的預期是淨增幅同比下降，但高於去年第一季度公佈的180萬份淨增幅。
"Given the run and the elevated expectations, we remain Neutral into the print but raise our PT to $600."
“鑑於上漲和較高的預期，我們對印刷品保持中立，但將PT提高至600美元。”
Key areas of focus from Netflix's first-quarter report will be the balance of subscribers and the average revenue per member; the pace of scaling for the company's advertising business; and margin expansion versus company investments.
Netflix第一季度報告的重點領域將是訂戶餘額和每位會員的平均收入；公司廣告業務的擴張速度；以及利潤增長與公司投資的對比。
Farrell said a key question is what inning of paid sharing Netflix is in at this point, with some bulls suggesting there is more growth from paid sharing.
法雷爾說，一個關鍵問題是Netflix目前處於哪個階段的付費共享，一些多頭認爲，付費共享將帶來更多增長。
The advertising segment for Netflix remains another key question with management previously saying it would have "a more substantial revenue" stream in 2025, the analyst said.
該分析師表示，Netflix的廣告領域仍然是另一個關鍵問題，管理層此前曾表示，到2025年，Netflix的收入將增加 “更可觀的收入”。
"We continue to wait for the pivot to 'walking' from 'crawling,' but as the ad-tier competitive landscape intensifies, we suspect scale needs to happen sooner rather than later."
“我們仍在等待從'爬行'轉向'的轉變，但隨着廣告層競爭格局的加劇，我們懷疑規模需要儘早實現。”
"Netflix has proven itself to be the clear leader in streaming, we would prefer for a pullback in order to get more constructive."
“Netflix已證明自己是流媒體領域的明顯領導者，爲了獲得更大的建設性，我們更願意回調。”
NFLX Price Action: Netflix shares trade at $620.65 on Friday versus a 52-week trading range of $315.62 to $639.00. Shares of the streaming company are up 83% over the last year.
NFLX價格走勢：週五，Netflix股價爲620.65美元，而52周的交易區間爲315.62美元至639.00美元。這家流媒體公司的股價比去年上漲了83％。
Image: Unsplash
圖片：Unsplash
譯文內容由第三人軟體翻譯。