Netflix Share Price Forecast November 2021 – Time to Buy NLFX?

Shares of Netflix(NASDAQ: NFLX) are in the red currently, closing at $677.72 with a downtrend of -0.51%. The majority of investors were discouraged by the company’s mixed earnings report released in October. Investors might be seeing more potential in the company’s ability to evolve. This has been evidenced by Netflix and its efforts to shift from being a DVD-rental website to a streaming company to a content creator during its existence.

Netflix – Technical Analysis

According to the financial statement released by Netflix, the market cap of the company is at $300.198 billion with total assets worth $42.74 billion. Revenue for 2020 was at $25 billion with a profit margin of 11.05% compared to $20.16 billion in 2019.

Moving averages such as Exponential Moving Average (10)(667.73), Simple Moving Average (10) (666.94), Exponential Moving Average (20)(651.48), Simple Moving Average (20)( 649.69) and Exponential Moving Average (30)(637.96) are indicating a buy action. Oscillators such as Commodity Channel Index (20)(94.82), Average Directional Index (14)(37.25) and Awesome Oscillator(50.40) are all neutral.

68% of all retail investor accounts lose money when trading CFDs with this provider.

Recent Developments

The company’s most recent quarter revealed the smashing success of Netflix’s movies and shows. Its Squid Game was watched by more than 142 million member households in its first 28 days,, generating a revenue of $900 million for a budget of just $21 million. Other successful Netflix films include Sweet Girl and Kissing Booth 3. Other series such as The Queen’s Gambit boosted sales of chess sets and increased interest in the game while Lupin increased the sales of the book it was based on.

Netflix is also taking its first step into the mobile gaming industry with the launch of Netflix games worldwide. Currently, it’s offering 5 game titles: Stranger Things: 1984 (BonusXP), Stranger Things 3: The Game (BonusXP), Shooting Hoops (Frosty Pop), Card Blast (Amuzo & Rogue Games), and Teeter Up (Frosty Pop). Users with a Netflix subscription and an Android device. The shares spiked to $681.81 on the news before falling back.

Should You Buy NLFX Shares?

Investors interested in Netflix should look at a few aspects. The number of paid subscribers increased by 9.4% year over year during the third quarter. It expects to end the year with 222.06 paid subscribers which would mean an increase of 9% from the previous year. However, this also represented a slowdown from the 21.9% growth experienced during the end of 2020, where stay-at-home trends were high due to the pandemic.

While Netflix is gradually making attempts to diversify its online store for free mobile games and tie-in merchandise for some markets, it still generates the bulk of its gains from paid subscribers. The company has also repeatedly rejected calls from investors to launch a cheaper ad-supported tier. This could weigh in on the company’s efforts to weather a creative drought or slowdown. More diversified companies such as Disney can rely on the growth of their other sectors if their streaming platforms are unsuccessful.

Netflix shares hold buy signals from both short and long-term moving averages. Several short-term signals along with a general good trend are pointing towards a buy action for this share. While the company’s high-growth stage is over, it doesn’t mean that it cant increase its sales and offer investors gains. It recently became cash positive, using that cash to fund new intellectual property development. As its content is attracting more and more people, there are several signs that Netflix shares could rise further. Considering this, it can be a good buying opportunity for investors.

Buy NLFX at eToro with 0% Commission Now!