2024-07-01 11:08:27 ET
Summary
- I'm reiterating Netflix with a Buy, and I believe venturing into Sports is the new leg for growth.
- I think the company's focus on engagement as a new key metric will show up in the top line in 2HFY24.
- In my opinion, Netflix's original content is its bread and butter and will boast engagement and subscriber growth in the near term.
- I share my thoughts on Netflix here and why I think it has more upside in FY2024.
Investment Thesis
I last wrote about Netflix ( NFLX ) post-1Q24 earnings in late April , with a positive outlook on top-line growth supported by management's focus on profitability and their improved go-to-market strategy. I'm reiterating my buy rating on Netflix in light of management's commentary about shifting more focus to engagement as the new key growth metric....
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Netflix: Engagement For The Win - Reiterating Buy