[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]

![CorleoneDon77 Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1577382889104318472.png) DonCorleone77 [@CorleoneDon77](/creator/twitter/CorleoneDon77) on x 5458 followers
Created: 2025-07-21 02:23:20 UTC

$NFLX

Attached is page X of a 13-page Raymond James analyst report on NFLX issued Thursday (7/17) entitled:

"Solid Quarter Meets High Expectations Bar"

Raymond James has a 'Market Perform' rating on NFLX without a price target.

Raymond James' 'Recommendation' regarding NFLX in the report includes the following:

"Netflix reported 2Q25 results modestly ahead of expectations, with an improved 2H25 outlook driven by a combination of a weaker U.S. dollar and solid underlying performance. 

The quarter largely featured achievements of previously-stated goals and reiterations of longer-term strategic objectives. Performance was solid across markets, with each region posting 15%+ ex-F/X revenue growth and member additions outpacing internal expectations. 

Netflix is leaning into its strengths with a reiterated content budget of ~$18B for FY25, allocated across genres and entertainment modalities to reach broad audiences. Additionally, the ad tier commentary was again upbeat, with the Netflix Ads Suite now rolled out to all XX ad markets, the focus transitioning to adding incremental demand partners and capabilities. 

We still see Netflix as a likely candidate to continue consolidating entertainment share, but we maintain our Market Perform rating given high expectations, with shares remaining fairly valued at ~11x 2026E EV/Revenue (implied ~40x P/E).

-- Valuation Methodology:

We value Netflix based on a forward EV/Sales ratio. We also consider forward P/E, EV/EBITDA, and P/E/G ratios, as well as our DCF analysis.

-- General Risk Factors:

Following are some general risk factors that pertain to the businesses of the subject companies and the projected target prices and recommendations included on Raymond James research: 

(1) Industry fundamentals with respect to customer demand or product/service pricing could change and adversely impact expected revenues and earnings; 
(2) issues relating to major competitors or market shares or new product expectations could change investor attitude toward the sector or this stock; 
(3) Unforeseen developments with respect to the management, financial condition or accounting policies or practices could alter the prospective valuation.

-- Company Specific Risk Factors

Downside risks: 

1) intense competition from established technology and media companies; 
2) high content spend leading to free cash flow losses and need for debt financing; 
3) macroeconomic sensitivity

-- Upside risks: 

1) faster-than-expected growth in international markets; 
2) pricing power could lead to high-margin revenue increases

Our Moderately Aggressive Risk suitability rating reflects Netflix's history of free cash flow losses."

(Page X is not available here as X does not allow me to post pages from reports on this platform)


XXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1947120175137935610/c:line.svg)

**Related Topics**
[$nflx](/topic/$nflx)
[stocks communication services](/topic/stocks-communication-services)

[Post Link](https://x.com/CorleoneDon77/status/1947120175137935610)