Major Institution Rating | Wedbush: Reiterates "Outperform" Rating for Netflix, Ad Revenue Expected to Double This Year

Glonghui, July 14 – Wedbush Securities released a report stating that Netflix's advertising revenue is still expected to roughly double this year, even though user engagement in the US market appears to have stabilized. Wedbush reiterated its “Outperform” rating for Netflix, with a target price of $118. Netflix is scheduled to announce its second quarter results on Thursday. Wedbush expects the company’s revenue to reach $12.58 billion, roughly in line with market consensus, and earnings per share to be $0.78, slightly below Wall Street’s expectation of $0.79.