14.04.2020 NETFLIX Daily Analysis

14.04.2020 NETFLIX Daily Analysis

Netflix was one of the biggest market movers on Monday after climbing more than 7% and closing at 396.72. This isn't surprising at all seeing how the company is continuously getting more subscribers as people get stuck at home. Netflix apparently has 28 Million subscribers according to reports. Netflix is a form of entertainment and falls slightly lower on the basic needs index, in fact, it's not a basic necessity yet consumers with declining incomes would still dig deep into their pockets and pay a few bucks to be entertained. This could be due to the fact that the streaming giant has low charges and constantly has. One wall street analyst, Michael Graham who's been suggesting traders buy the stock raised the price target from $415 to $450. Netflix will be releasing its first-quarter reports on April 21st and will without doubt beat Revenue and Subscription forecasts.