Evercore ISI analyst Mark Mahaney said his 1,500-respondent U.S. quarterly survey on Netflix Inc. was “modestly positive.”
The survey revealed penetration reached a “record high” of 69 percent of respondents who used Netflix, up 2 percent quarter-over-quarter.
The proportion of Netflix’s happy users saw the “largest sequential decline in years,” possibly due to rising competition and recent price hike.
Mahaney reiterated an In-Line rating and $525 price target (44 percent upside) on Netflix.
By Anusuya Lahiri
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