Raising Netflix FVE to $120 but We Still Foresee Rising Competition and Massive Content Spending
We have taken a fresh look at Netflix in light of the firm's recent quarterly results and revised guidance. As a result, we are raising our fair value estimate to $120 from $90 to account for slightly faster margin improvement in the U.S. and international segments, faster growth of international net subscriber additions, and slightly faster growth in the average monthly revenue per paying member in the U.S. Even with the increase in our fair value estimate, shares of narrow-moat Netflix still a...Netflix is engaged in subscription streaming entertainment service including TV series, documentaries and feature films across a variety of genres and languages. Members can watch as much as they want, anytime, anywhere, on any internet-connected screen. Members can play, pause and resume watching, without commercials. Additionally, several members in the United States subscribe to the company's DVD-by-mail service. The company improves its streaming content with a focus on a programming mix of content. The company's members can download a selection of titles for offline viewing. The company operates its business as a global operating segment.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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