iShares iBonds Mar 2023 Term Corporate ETF (NYSEARCA:IBDD) Stock Price Up 0.1% – Time to Buy?
The holiday season is a time for deep reflection. And for me this year, that has meant reflecting on some of my favorite stocks and leaders to follow. Netflix ( NFLX ) has come to the forefront of my mind as the year winds down, in part after seeing Beyoncé ride out on a majestic white horse during one of Netflix's Christmas Day football games. Legend. "The game was a home run as far as they're concerned," Manhattan Venture Partners head of research Santosh Rao said on Yahoo Finance's Morning Brief (video above). "I think this was a great home run for the ad business that they have." Netflix hosted its first two NFL games that day, hot on the heels of the glitchy — but still enjoyable to watch — Mike Tyson vs. Jake Paul boxing spectacle in November. The other reason Netflix is on my mind is because the hotly anticipated Season 2 of "Squid Game" premiered on Thursday, and the characters in the pink jumpsuits and black face masks are dominating my X feed. The second installment has gotten mixed reviews on Rotten Tomatoes , but people still tuned in en masse. Doing a little analysis in the wake of these events, it looks like Wall Street is still too bearish on Netflix — even with the stock up 86% year to date. Perhaps this group thinks Netflix is that young streaming company from years ago, burning money and raising debt to fund content investments. Here is the bearishness I am seeing in the numbers, compliments of data from the Yahoo Finance platform : The average sell-side analyst price target on Netflix is $838, 10% below current price levels. This is totally out of whack with a company that has demolished analyst profit forecasts at every stop in 2024. 44% of sell-side analysts rate the stock at Underperform or Sell. The average analyst earnings per share estimate for 2025 models Netflix only posting 20% earnings growth. The reality is that Netflix looks positioned for another monster year in 2025, which may win over more Wall Street skeptics and support another push higher in stock price. Netflix has not only arrived on the live sports scene — it has smashed the wall down. This likely means two things: First, the streaming movement around live events will accelerate further as legacy media continues to buckle and cut back more, and second, Netflix's ad dollars are locked in on a significantly higher trajectory. Just look at these numbers. More than 200 countries tuned in at some point during the Chiefs vs. Steelers game, according to NFL Media data . The game is the second-most-popular live title on Netflix to date. Additionally, 60 million households watched the Tyson vs. Paul fight. These are huge numbers that validate Netflix's investments in live sports — which includes the debut of WWE in January. "Given the success of the Tyson/Paul fight we expect Netflix to accelerate its offerings of 'eventized' live programming, which further enhances Netflix's ability to offer households regular compelling content (juiced by the fact their competitors are now selling previously exclusive content to Netflix) = likely lower subscriber churn and greater ability to take price," Pivotal Research analyst Jeffrey Wlodarczak wrote. Wlodarczak is Wall Street's biggest Netflix bull, with a $1,100 price target on the stock. Wlodarczak's call-out of price increases is important. In October, Netflix raised prices for basic and premium services by $2 and $3, respectively. The hikes will likely enhance sales and profits in 2025. With the live sports and events push underway ( including a deal to broadcast the FIFA Women's World Cup in 2027 and 2031) and compelling traditional Netflix content such as "Squid Game" being churned out, it's inevitable the company raises prices again within the next 12 to 18 months. See more: Why Disney doesn't want to sell its TV network That will only enhance Netflix's impressive free cash flow story. Netflix will haul in close to $7 billion in free cash flow this year, according to analyst estimates. Pivotal's Wlodarczak thinks Netflix's free cash flow will reach $23.5 billion by 2030. Free cash flow is operating cash flow minus capital expenditures. A company hits the free cash flow mark by being profitable and prudently investing those profits into "stuff" like plants and equipment. The cash left over could then be used to further bolster the total return potential for investors by way of stock buybacks or dividend increases. Recall that from 2015 to 2019, Netflix had a negative cash flow of $10.5 billion. The company went free cash flow positive in 2020 with $1.9 billion in free cash as the COVID-19 pandemic fueled bumper profits, followed by a $132 million free cash outflow in 2021. But those days are over. Last year, the company brought in $6.9 billion in free cash after reporting $1.6 billion in free cash flow in 2022. And Netflix's free cash flow build will only allow it to feed its content flywheel at the same time that legacy media continues cutbacks. This is how competitive moats are built. In the end, Netflix could conceivably generate north of $25 in earnings per share next year — well ahead of current analyst estimates of about $23.81 . Slap a premium price-earnings multiple on the stock of 40 times (it's currently at 38 times), and Netflix could have a path to trading above $1,000 a share in 2025. "I think [the stock is still undervalued] absolutely because there's still a long runway ahead," Rao said. "They're just getting into live sports, and there are so many other live sports they can get into." "They're going to pull people into their ecosystem," Rao continued, pointing to cricket and soccer as other opportunities for Netflix live sports. "So the [subscriber] growth is going to be strong. To a large extent, it's priced in, but there is a lot more to come ahead because they are the only game in town in terms of excellent streaming services and the broad breadth of offerings." Rao sees at least a 15% upside left in Netflix shares. Brian Sozzi is Yahoo Finance's Executive Editor. Follow Sozzi on X @BrianSozzi and on LinkedIn . Tips on deals, mergers, activist situations, or anything else? Email brian.sozzi@yahoofinance.com. 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COLUMBUS, Ohio — Kirill Marchenko tied it late in the third period with his second goal of the game, Sean Monahan had the only score in a shootout, and the Columbus Blue Jackets beat the Carolina Hurricanes 5-4 on Saturday night for their third straight win. Dmitri Voronkov had a power-play goal and Dante Fabbro also scored for Columbus. Elvis Merzlikins made 32 saves, including stopping all three shots he faced in the shootout to help the Blue Jackets get their third straight win for the first time since March 11-16, 2022. Sebastian Aho had a power-play goal and an assist, and Jack Roslovic, Jalen Chatfield, and Jackson Blake also scored for Carolina, which dropped a point behind first-place New Jersey in the Metropolitan Division. Pyotr Kochetkov made 27 saves before leaving the game with two minutes left in overtime after colliding with Zach Werenski. Spencer Martin made one save in relief. Takeaways Carolina Hurricanes: Carolina let slip the chance to beat a Metropolitan Division rival and instead lost for the third time in four games on its road trip. The Hurricanes still have the highest point percentage in the Eastern Conference. Blue Jackets: The Blue Jackets had a pair of leads and a four-minute third-period power play but could not close the door on Carolina until the shootout. Key moment Marchenko’s goal with 1:06 left in regulation sent the game to overtime, where the Blue Jackets ultimately found a way to win. Key stat Martin Necas had two assists to give him 22 on the season, tying him for third in the league. He leads Carolina and is third in the NHL with 33 points. Carolina Hurricanes center Jack Drury, center, skates in on Columbus Blue Jackets goaltender Elvis Merzlikins in the second period of an NHL hockey game in Columbus, Saturday, Nov. 23, 2024. Defenseman Cole Sillinger is at left. Credit: AP/Sue Ogrocki Up Next Hurricanes host Dallas on Monday to open a three-game homestand, and Blue Jackets host Montreal on Wednesday.
Underperforming Pacers welcome struggling WizardsFootball: Fairview’s title hopes fall short in the semisiShares MSCI China A ETF ( BATS:CNYA – Get Free Report ) shares shot up 0.4% during trading on Friday . The stock traded as high as $28.68 and last traded at $28.65. 34,291 shares were traded during trading, The stock had previously closed at $28.55. iShares MSCI China A ETF Stock Performance The business has a 50-day simple moving average of $29.23 and a two-hundred day simple moving average of $27.24. The company has a market capitalization of $310.31 million, a price-to-earnings ratio of 12.12 and a beta of 0.44. Hedge Funds Weigh In On iShares MSCI China A ETF A number of hedge funds and other institutional investors have recently bought and sold shares of CNYA. Rhumbline Advisers lifted its stake in shares of iShares MSCI China A ETF by 25.3% in the 2nd quarter. Rhumbline Advisers now owns 55,660 shares of the company’s stock worth $1,410,000 after acquiring an additional 11,250 shares during the period. Prism Advisors Inc. raised its holdings in iShares MSCI China A ETF by 8.9% during the third quarter. Prism Advisors Inc. now owns 393,897 shares of the company’s stock worth $11,963,000 after purchasing an additional 32,310 shares in the last quarter. Hsbc Holdings PLC lifted its position in iShares MSCI China A ETF by 136.8% in the second quarter. Hsbc Holdings PLC now owns 124,496 shares of the company’s stock valued at $3,153,000 after purchasing an additional 71,921 shares during the period. Fisher Asset Management LLC purchased a new stake in iShares MSCI China A ETF in the 3rd quarter valued at approximately $17,202,000. Finally, JPMorgan Chase & Co. increased its position in iShares MSCI China A ETF by 129,255.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 51,742 shares of the company’s stock worth $1,571,000 after purchasing an additional 51,702 shares during the period. iShares MSCI China A ETF Company Profile The iShares MSCI China A ETF (CNYA) is an exchange-traded fund that is based on the MSCI China A Inclusion index, a market-cap-weighted index of Chinese A-share equities. CNYA was launched on Jun 13, 2016 and is managed by BlackRock. Recommended Stories Receive News & Ratings for iShares MSCI China A ETF Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for iShares MSCI China A ETF and related companies with MarketBeat.com's FREE daily email newsletter .
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