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Netflix Poised For Another Big Quarter Amid Coronavirus Pandemic

July 8, 2020
Bernie McTernan

Wall Street analysts think Netflix (NFLX) will post its second quarter in a row of big subscriber gains thanks to the stay-at-home entertainment boom during the Covid-19 coronavirus pandemic. Netflix stock is in record high territory ahead of the company's June-quarter earnings report next week.

Los Gatos, Calif.-based Netflix plans to release its second-quarter results on July 16.

However, some analysts are raising the caution flag for Netflix stock, given its steep run-up lately.

"Netflix is a Covid-19 beneficiary, but we believe this is already factored into the stock and therefore we struggle to see the upside from here," Rosenblatt Securities analyst Bernie McTernan said in a note to clients late Tuesday.

Wall Street analysts think Netflix (NFLX) will post its second quarter in a row of big subscriber gains thanks to the stay-at-home entertainment boom during the Covid-19 coronavirus pandemic. Netflix stock is in record high territory ahead of the company's June-quarter earnings report next week.

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