Netflix Crosses To $300 A Share – CWEB.com
Netflix (NASDAQ:NFLX) shares crossed the $300 barrier to rally an all time high of $301.18.
It had gotten closer earlier in the week before a couple of flat days of trading.
The move capped a 3.7% gain on the day that pushed the company’s market cap to $130.6B.
Shares of Netflix (NASDAQ:NFLX) are on watch after the company strikes a deal with Sky that will see its service added to the media player’s pay bundle in the U.K. and other European nations.
The January 22 letter to shareholders says it best:
“We believe our big investments in content are paying off. In 2017, average streaming hours per membership grew by 9% year-over-year. With greater than expected member growth (resulting in more revenue), we now plan to spend $7.5-$8.0 billion on content on a P&L basis in 2018.
Netflix outspends all its rivals on original content. This year, the company is pouring $8 billion into its original content portfolio. Compare that to Amazon’s $4.5 billion and HBO’s $2.5 billion.
CWEB Analyst’s have initiated a Buy Rating for (NASDAQ:NFLX) and a Price Target of $400 within 12 months.
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