Netflix rises as UBS boosts estimates, citing 'positive data' on paid sharing
demaerre

Netflix (NASDAQ:NFLX) shares rose fractionally in pre-market trading on Wednesday as investment firm UBS boosted its estimates on the streaming giant, citing "positive data" on the company's paid sharing initiatives.
Analyst John Hodulik said he now expects Netflix (NFLX) to come in above the company's management's guidance for revenue and operating income, while still seeing accelerating second-half growth.

As such, Hodulik now expects the company to add 3.6M and 6.5M subscribers in the second and third-quarters, up from prior views of 1.4M and 3.6M, respectively.
Hodulik, who boosted his per-share price target to $525 from $390, also expects the company's guidance for the third-quarter to imply faster revenue and operating income growth, due to paid sharing.
Netflix (NFLX) is slated to report second-quarter results after the close of trading on July 19.
Morgan Stanley also upped its estimates on Netflix on Monday, citing better churn and strong app downloads.

More on Netflix

Netflix's 'less compelling' content may offset paid subscriber tailwinds
Netflix: The Rally Is Likely Still Far From Over
Netflix: 3 Reasons Why It's Not Too Late To Buy, Yet