Buy Netflix Stock on the Dip Ahead of Q2 Earnings for Coronavirus Boost?

Zacks Stocks In The News · Buy Netflix Stock on the Dip Ahead of Q2 Earnings for Coronavirus Boost?



On today’s episode of Full Court Finance here at Zacks, Ben Rains dives into all things Netflix NFLX ahead of its second quarter earnings release that’s due out after the closing bell on Thursday, July 16. The goal is to help investors see if they should consider buying the streaming TV firm that has been boosted by the coronavirus stay-at-home push and more.

Netflix has benefited from the stay-at-home environment, alongside the likes of Zoom ZM, Amazon AMZN, and others. Wall Street celebrated the streaming TV giant’s big first quarter, where it added 15.8 million global paid users to destroy the 7 million guidance it provided before the coronavirus turned into a global pandemic.

The firm looks poised to grow for years to come as part of the broader streaming TV industry that now includes Disney DIS, Apple AAPL, HBO Max T, and many others. The company also stands to benefit greatly in the near-term because movie theaters, concerts, and sports with fans in attendance will likely be some of the last things to return.

The question now is will Netflix be able to impress Wall Street again in Q2. It is worth noting that NFLX shares have fallen in the last few days, which could set up a better buying opportunity for those high on the stock. But it could signal that the best coronavirus case is already priced in.

That said, the broader tech space might remain a safe-haven for investors and Netflix is one of the only pure-play streaming TV stocks out there alongside Roku ROKU.

5 Stocks Set to Double

Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.

Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.

Today, See These 5 Potential Home Runs >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
ATT Inc. (T): Free Stock Analysis Report, Inc. (AMZN): Free Stock Analysis Report
Apple Inc. (AAPL): Free Stock Analysis Report
The Walt Disney Company (DIS): Free Stock Analysis Report
Netflix, Inc. (NFLX): Free Stock Analysis Report
Roku, Inc. (ROKU): Free Stock Analysis Report
Zoom Video Communications, Inc. (ZM): Free Stock Analysis Report
To read this article on click here.
Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.