Today’s Research Reports on Stocks to Watch: Netflix and Shopify

Netflix shares saw a pop yesterday after a Bernsteins analyst downplayed Disney’s move on removing content from the company and remarked that Netflix would not be effected by the move. Shares of Shopify also saw a boost on no news, but the company did report better than expected earnings at the beginning of the month including a record number of merchants added to its platform in the second quarter.

RDI Initiates Coverage on:

Netflix, Inc.

Shopify Inc.

Netflix, Inc. shares closed up 3.48% on Wednesday with a little over 8 million shares traded. The stock saw a pop after an analyst perhaps gave traders confidence again over Disney pulling content from the streaming giant. Analyst Todd Juenger of Bernsteins wrote a note to clients that downplayed Disney’s move and noted that the significance of growth for Netflix is in the continued expansion of its international business. He wrote, "Almost all of Netflix’s future growth will come from international … Investors who were already skeptical (or bullish) on int’l growth will remain so – but Disney’s U.S. non-renewal should have no effect on that view." Bernstein has an "overweight" rating on Netflix and Juenger has increased his price target on the stock to $203. This is a 20.3% premium from Tuesday’s closing price.

Access RDI’s Netflix, Inc. Research Report at:

Shopify Inc. shares closed up 3.90% on Wednesday and hit a brand new high of $108.77 during intra-day trading. There was no significant news from the company to explain the big move but the company had impressive earnings at the beginning of the month. The company reported fiscal second quarter results that revealed an adjusted operating loss of $2.9 million. For the quarter the company reported an adjusted loss of one cent per share, which was ahead of the 7 cent loss that Wall Street expected. Revenue at $151.7 million was also ahead of the $143.6 million that analysts had waited for and a 75% increase from the year ago quarter. For the current quarter, the company has projected revenue of $165 million vs. consensus estimates of $156.5 million. The merchant solutions company also posted a record number of merchants to its platform. Citigroup analyst Kenneth Wong wrote to clients, "Management highlighted another record quarter for merchant adds, bringing the total count north of 500,000."

Access RDI’s Shopify Inc. Research Report at:

Our Actionable Research on Netflix, Inc. (NASDAQ: NFLX) and Shopify Inc. (NYSE: SHOP) can be downloaded free of charge at Research Driven Investing.

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