Its incredible journey from small DVD-rental provider to streaming pioneer can be attributed to Netflix’s (NFLX) heavy investments in the production and distribution of localized content. However, intensifying competition from Apple+ (AAPL), Amazon Prime (AMZN), Disney+ (DIS), Paramount+ and Peacock is a major concern. Moreover, Netflix’s highly leveraged balance sheet (with long-term debt almost double the cash and cash equivalents) is a persistent headwind. Recently, Needham analyst Laura Martin weighed in the positives and negatives of the Netflix business and maintained that the scale is heavier on the negative side. She reiterated a Sell rating on the stock and did not set a price target.
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Netflix (NASDAQ:NFLX)
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