Netflix, Inc. (NASDAQ:NFLX) is increasing its net share authorization by an estimate of 30 times. The company is focused on taking its video streaming solutions to newer heights. In a company filing with regulators, NFLX shared the snippets pertaining to share authorization.
Where do analyst foresee upcoming resistance in NFLX?
Number Games
The company is hoping to cut through and seek for shareholders’ consent towards approval for increase in share authorization to a sumptuous 5 billion shares from the current number of 170 million. The company disclosed the figures in a regulatory filing.
With the latest intent towards uplifting share authorization by several notches, NFLX has depicted its interesting and aggressive strategies. The media company has impressive growth rate and is still in its budding stages of expansion abroad.
What Analysts Say?
Lately, Citigroup has chosen to raise its target from $409 to $525. There are estimates that the shares can rise up to $750 shortly, if not more, over time. The firm corroborated that there isn’t high competition risk that the NFLX is facing. Even, there is belief among Citigroup analysts that the subscriber list can uplift from 57 million currently to excess of 130 million, pan-world by 2020.
NFLX Outclass Other Video Streaming Companies
NFLX has been able to manage contents quite aptly, unlike other video streaming players who faced a number of disruptions. Further, Netflix, Inc. (NASDAQ:NFLX) has been touted as a pioneer in changing the paradigm how consumers view the media today. It is estimated if NFLX bags the $500 share price, the company would have a net market capitalization of $30 billion or excess. However, this $750 target long term pricing, if possible, would take NFLX net market capitalization to whopping $45 billion.
No Corroborative Comments From Netflix
Further, the move made by Los Gatos led to stock trading at $300 and above for a period of 18 months. This is certainly an indication of a purported stock split shortly. However, none of the information notched up from sources that are slated to have knowhow on what’s happening around, have been corroborated as NFLX authorities have chosen to remain unavailable for comment, immediately.
