GameStop is back! It has already surged by 14% in pre-trade hours.
Netflix: earnings release on April 21
You’ve probably heard that the Netflix stock soared as people are locked up at home amid the coronavirus pandemic and they have nothing to do but watch TV series. On April 21 the company will report its earnings after the market will close at 23:00 MT time.
Buy or sell?
After the release it could be a huge movement up or down. It depends on whether the Netflix’s performance meets high expectations of investors or not.
You should look precisely at two metrics. The first one is the revenue growth. Analysts anticipate an increase by 26.8% year over year to $5.73 billion. Millions of people binge-watching Netflix series should help to exceed these expectations.
The second one is managements’ forecast for subscriber growth in the second quarter of 2020. It should at least be 7 or 8 million paid subscribers addition.
The Netflix price has started to increase since March 17. It reached its peak at the 449.5 point and then slightly went down.
According to Bloomberg, 7 analysts advise to sell the Netflix stock, 6 – hold and 30 – buy.
If actual numbers exceed the forecast, it will push the stock price up, otherwise – down.
Check the economic calendar and don’t miss this chance to gain!
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The Reserve Bank of New Zealand will hold a meeting on Wednesday, April 14, at 05:00 MT.