Netflix Worth More Than Disney After Streamer’s Stock Hits All-Time High

Netflix Worth More Than Disney After Streamer’s Stock Hits All-Time High
Friday, April 17, 2020 10:21 IST
By Santa Banta News Network
Netflix's stock, extending its three-day rally, closed up 3.2%, to $426.75 per share. That gives Netflix a current market capitalization of $187.3 billion, putting it just over Disney's $186.6 billion, after the media conglomerate's stock finished down 2.5% amid a broader market decline Wednesday. Previously, Netflix's all-time high closing stock price was $418.97 on July 9, 2018.

Investors clearly are expecting Netflix to benefit from the COVID-19 crisis, with millions of people under stay-at-home orders - and looking for a diversion.

Netflix is scheduled to report first quarter 2020 earnings next Tuesday, April 21, after market close. It previously forecast total paid net adds of 7.0 million worldwide. Many analysts expect Netflix to gain more than that.

Pivotal Research Group now expects Netflix to net 8.45 million new subscribers for Q1. In a note Wednesday, analyst Jeffrey Wlodarczak raised his price target on the stock from $425 to $490 per share. `We believe the unfortunate COVID-19 situation is cementing NFLX's global [direct-to-consumer] dominance partly driven by the incremental content spend that is enabled by their massive and growing subscriber base,` Wlodarczak wrote.



To be sure, Disney Plus also has cashed in on the global coronavirus lockdown, but many of the rest of the company's businesses have been significantly disrupted by the crisis. Disney's family-friendly streaming service surpassed 50 million paying customers worldwide, the company announced last week, buoyed by its recent launched in India and eight Western European countries.

Meanwhile, other `stay-at-home` stocks have also climbed in the past month: Amazon's shares closed at an all-time high Tuesday, and they set a new record Wednesday after inching up 1.1%.
Robert Downey Jr. Stuns Fans with a Marvel Return, Now as Doctor Doom in 'Avengers: Doomsday'!

Hollywood star Robert Downey Jr. is set to return to the Marvel Cinematic Universe (MCU) in a surprising

Monday, July 29, 2024
George Clooney and Brad Pitt Come Together for Action Comedy - Wolfs - Trailer Out!!

George Clooney and Brad Pitt, two of Hollywood's biggest stars, are reuniting for an action comedy titled

Thursday, May 30, 2024
Exciting 'Deadpool & Wolverine' Trailer Teases Explosive Box Office Showdown!

The highly anticipated 'Deadpool & Wolverine' trailer has finally hit the screens, offering viewers

Tuesday, April 23, 2024
Amanda Cerny reacts to Jacqueline Fernandez’s ‘Yimmy Yimmy’ music video!

Jacqueline Fernandez recently collaborated with French artist- Tayc, to drop chart topper

Friday, March 15, 2024
Sharon Stone Reveals Producer Who Pressured Her for On-Screen Chemistry!

Renowned Hollywood actress Sharon Stone has recently shed light on a distressing incident from her past

Wednesday, March 13, 2024
ADVERTISEMENT
ADVERTISEMENT