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Netflix Inc. (NFLX) Gets New Look, Wall Street Looks For New Highs

Netflix Inc. (NASDAQ:NFLX) has finally rolled out its site makeover after four years. Netflix has been strangely slow in redesigning its user interface. The company only tried minor changes in the last four years, but nothing major has been done about the website. However, that old website should have been a relic of the past. In fact, there is a sharp disconnect between how Netflix operates both on a browser and in an app.

Two weeks ago, Netflix announced that it would launch a revamped user interface this month. The first rollout of the new website began yesterday. The company expects all Netflix users to have the latest interface within the next two weeks.

 

The new user interface is designed to give you a more fluid and dynamic user experience irrespective of how you access Netflix. For instance, Netflix has dropped the carousel browsing that reels out all the movie selection. A click on any movie in that carousel will start the movie – and it is like forcing a new drink down your throat without the luxury of a first sip.

With the new interface, you’ll have access to a whole lot of information when you click on a title. You’ll have access to the plot overview, casting, additional episodes, and related movies among others.

In addition, the new design allows users on touch-enabled devices experience a responsive user experience. Quoting Netflix Product Innovation Director, Cameron Johnson,” we’ve created a richer, more visual experience, and a website that works more like an app and less like a series of linked web pages. We’ve designed the website to work whether you are using a mouse, trackpad, or a touch screen. Touch screen users can tap to play or open details, and swipe to scroll through rows of titles.”

The Market is Impressed

The shares of Netflix had a bad day in yesterday’s session as the stock dropped 1.05% to close at a price of $654.02. However, the stock started recovering in the after-market session after the news of the new website was released. Shares of Netflix gained 0.11% to $654.71 after the market closed yesterday.

The shares of Netflix have gained 52.87% in the last one year. The stock has an incredible 91.40% gain in the year-to-date, from a 52-week low of $315.54 to a record 52-week high of $692.79. The stock has gained 6.62% in the last one month and it has gained 4.34% in the last 5 days.

Analysts expect the bullish streak on Netflix to continue. On June 10, analysts at UBS reiterated their “Buy” rating on Netflix. They also raised their price target from $600 to $722 as they expect a sustained global growth. On June 13, analysts at Cantor Fitzgerald reiterated their “Buy” rating on Netflix. According to them, “Netflix continues to impress with its strategic partnerships and strong fundamentals“.

 

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Victor Alagbe is a seasoned business and finance writer with a specialty in writing about how to invest for the long-term in healthcare, pharmacology, energy and tech stocks. His long-term focus is on stocks that provide a nice mix of growth and income. For the short term, he passionately writes about trading stock options for the excitement and leverage that stock options offer.

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