Nasdaq NFLX NetFlix

Fintel reports that on October 9, 2023, Needham reiterated coverage of Netflix (NASDAQ:NFLX) with a Hold recommendation. Analyst Price Forecast Suggests 26.14% Upside

Fintel reports that on October 9, 2023, Goldman Sachs maintained coverage of Netflix (NASDAQ:NFLX) with a Neutral recommendation. Analyst Price Forecast Suggests 26.14% Upside

Netflix said on Monday it is ending its free mobile plan in Kenya, which has allowed users to access a quarter of its shows and movies without paying over the past two years.

Short-term unpredictability is one of the few guarantees Wall Street brings to the table. Since this decade began, the three major stock indexes have ping-ponged between bear and bull markets.

Netflix (NASDAQ: NFLX) is a household name. And it's obvious why: The streaming video service has over 238 million subscribers and a market cap of $169 billion, making it America's 36th-largest public company.

Social media company Meta Platform's ( NASDAQ:META ) efforts to strengthen its position in the AI (artificial intelligence) race have gained significant traction in recent months. The stock has risen by 162% year-to-date, outperforming the S&P 500's ( SPX ) 12% gain, and analysts see more upside ahead. Meta's attempt to strengthen and monetize its already popular social media platforms by adopting generative AI could boost its revenue and earnings in the next few quarters. Hence, I am bullish on META stock now. Meta Platforms: Gearing Up for Another Strong Quarter Meta (formerly Facebook) is a part of the big tech  FAANG group, which also includes Amazon ( NASDAQ:AMZN ), Apple ( NASDAQ:AAPL ), Netflix ( NASDAQ:NFLX ), and Alphabet (formerly Google) ( NASDAQ:GOOGL ). Meta Platforms owns social media platforms Facebook, WhatsApp, Instagram, Messenger, the recently launched Threads, and others. These fall under one of its segments, Family of Apps (FoA). Its augmented and virtual reality-related products and services fall under its other reportable segment, Reality Labs (RL). Reality Labs hasn’t been profitable for the company. In Q2, it reported a $3.7 billion operating loss, however, thanks to its FoA segment, which is making up for the damage done. It brought in $31.7 billion in revenue, accounting for a chunk of total revenue, resulting in a $13.1 billion operating profit. CEO Mark Zuckerberg had set 2023 as the "year of efficiency" and has been working hard to make that happen. It entailed layoffs, reducing spending on less significant projects, and focusing on more AI-related projects. During its Q2 earnings call, the company discussed how its AI-related investments over the years are finally paying off. Meta Stock: Powering Through AI Innovations Certainly, it has been a year of efficiency. Most recently, at Meta's Connect conference, CEO Mark Zuckerberg unveiled the company's new generative AI products, which sparked market excitement. Meta AI is an advanced conversational assistant that can generate text responses and photo-realistic images and is integrated with Meta's popular products, WhatsApp, Messenger, and Instagram. Meta AI is powered by Llama 2, its large language model, which it released in July in collaboration with Microsoft ( NASDAQ:MSFT ). The company intends to incorporate Meta AI into its mixed reality headset, Quest 3, and another new offering, a new generation of Ray-Ban Meta smart glasses. The company will launch Quest 3 on October 10. Zuckerberg described Quest 3 as the best value in the industry for combining digital and real-world experiences at a low cost. Indeed, it is low-cost, priced at $500, while competing with Apple's Vision Pro Headset, which will come with a price tag of around $3,500. Apple's headset is set to hit the market in early 2024. What's more, its new generation of Ray-Ban Meta smart glasses, in collaboration with EssilorLuxottica, are priced at $299. The glasses will be launched in the third week of October. Meta claims the glasses can take pictures, record videos, and connect to social media. Along with these, Meta has added generative AI stickers to its messaging apps. It could use AI to unlock more monetary potential in the wildly popular messaging app WhatsApp, which it purchased for $19 billion in 2014. More features from the company include its monthly subscription charges for ad-free Instagram and Facebook app use in Europe, which could be around 10 euros ($10.60 at current exchange rates). CFO Susan Li stated that the company's capital expenditures could rise in 2024 as it navigates AI and metaverse opportunities by expanding its workforce with more technical roles. Looking ahead, management anticipates revenue in the third quarter to be in the $32 billion to $34.5 billion range, representing an impressive 16% to 25% increase over Q3 2022. Meanwhile, analysts expect its revenue to be in the $29 billion to $34 billion range, with earnings estimates ranging from $2.27 to $4.27 per share, with the consensus EPS estimate landing at $3.59. On October 25, Meta will report its third-quarter earnings. Additionally, Meta closed its Q2 with a hefty cash balance of $53.5 billion and $18.3 billion in long-term debt. Given the company's rapid growth in revenue and profits, repaying the debt shouldn't be hard. Furthermore, it generated a sizable $11 billion in free cash flow in the quarter, which should aid in debt repayment and future project financing. While in pursuit of getting ahead in the AI race, Meta also believes this technology is still in its early stages and thus intends to build it responsibly. Is META Stock a Buy, According to Analysts? Turning to Wall Street, TipRanks rates Meta as a Strong Buy, with 40 Buys, two Holds, and no Sell ratings assigned in the past three months. The average META stock price target of $376.47 implies 19.35% upside potential. The highest price target for the stock stands at $435, while the lowest is at $285 per share. The Takeaway Summing up, sitting at a market cap of $811.6 billion, Meta is very close to joining the $1 trillion club. With Meta's efforts to monetize its social media apps and capitalize on the massive growth brought about by AI, the company is well-positioned to achieve this goal. Though the AI niche is enticing, it is also susceptible to market fluctuations. But for now, I share Wall Street's optimism about META stock's outstanding long-term prospects. Disclosure

We've got lots of stock talk in this podcast as we play the game that educates, amuses, and enriches us all. And, it's the 25th edition, so we've brought back two returning champions to play against each other! In the end we're all winners on Rule Breaker Investing's "Market Cap

India has sent notices to social media platforms X, formerly known as Twitter, YouTube and Telegram asking them to ensure there is no child sexual abuse material on their platforms, the government said on Friday.

Media companies have been hard-pressed to make a profit from streaming video. But there's one company in the space that's already immensely profitable and should see a substantial profit bump next year.

Fintel reports that on October 6, 2023, Seaport Global initiated coverage of Netflix (NASDAQ:NFLX) with a Buy recommendation. Analyst Price Forecast Suggests 29.16% Upside

India has sent notices to social media platforms X, formerly known as Twitter, Youtube and Telegram asking them to ensure there is no child sexual abuse material on their platforms, the government said on Friday.

Fintel reports that on October 6, 2023, Wedbush reiterated coverage of Netflix (NASDAQ:NFLX) with a Outperform recommendation. Analyst Price Forecast Suggests 29.16% Upside

Fintel reports that on October 6, 2023, Bernstein initiated coverage of Netflix (NASDAQ:NFLX) with a Market Perform recommendation. Analyst Price Forecast Suggests 29.16% Upside

What happened Shares of Netflix (NASDAQ: NFLX) fell 12.9% last month, according to data from S&P Global Market Intelligence. Investors in the leading streaming video service had their nerves rattled by comments a company executive made at a media industry conference.

Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Netflix Inc (Symbol: NFLX), where a total volume of 121,699 contracts has been traded thus far today, a contract volume which is representative of approximately

Investors in Netflix Inc (Symbol: NFLX) saw new options become available today, for the November 24th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the NFLX options chain for the new November 24th contracts and identified one put and one

In trading on Thursday, shares of Netflix Inc (Symbol: NFLX) crossed below their 200 day moving average of $370.50, changing hands as low as $367.24 per share. Netflix Inc shares are currently trading off about 2.2% on the day. The chart below shows the one year performance o

Walt Disney DIS-owned Walt Disney World has announced new and limited-time discounts on children’s tickets at Disneyland and Disney World, which will run in spring and summer 2024.Starting on Nov 14, 2023, Walt Disney World is set

Striking Hollywood actors and studios will continue their negotiations on Friday, the SAG-AFTRA actors union said on Wednesday.

(RTTNews) - Netflix is reportedly planning to increase the prices of its ad-free subscription plans after the ongoing SAG-AFTRA actors strike is resolved.