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Nasdaq 100 Forecast: Will Netflix Earnings Live Up To Expectations?

Nasdaq 100 Forecast: Will Netflix Earnings Live Up To Expectations?

2020-04-20 22:05:00
Peter Hanks, Analyst
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Nasdaq 100 Price Outlook:

  • The Nasdaq 100 has been a strong performer among risk assets in the equity rebound, partially due to its high exposure to technology stocks
  • Many analysts have argued quarantine will translate to an outstanding quarter for Netflix which is due to report Tuesday afternoon
  • Nasdaq Trading Basics: How to Trade Nasdaq 100

Nasdaq 100 Forecast: Will Netflix Earnings Live Up To Expectations?

April has seen US equities further regain their footing after suffering on the back of coronavirus-induced containment procedures. As a result, economic forecasts and corporate profit targets were devastated and analysts have revised their expectations for the ongoing earnings season. That being said, not all companies are expected to spiral into disarray or unprofitability.

In fact, some corporations will look to leverage their unique business models to capitalize on these unprecedented times. To that end, Netflix has been atop many lists of expected outperformers. With government-mandated quarantine still in effect across many nations, the thesis is that all the extra time indoors will translate to more subscribers for Netflix. However straightforward it may sound, Netflix seems to posses a significant advantage over some of its brick and mortar competitors and other industries. In turn, expectations for the company’s quarterly report – due to be released Tuesday afternoon – are high.

Netflix Leads Broader Nasdaq 100

nasdaq 100 price chart

Chart created in TradingView

Already the streaming service has outperformed the broader Nasdaq 100 since February, but the company’s quarterly results will clarify just how much of the outperformance is warranted. While many corporations tossed out their previous benchmarks, Netflix has adhered to its guidance and expects to add 7 million subscribers over the most recent quarter. It is important to keep in mind the expectations are pre-coronavirus so should the streaming platform fall short, the price reaction may be severe. On the other hand, all of the hype around how well positioned the service is - given the broader global turbulence - may require a stellar figure to impress traders.

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Either way, the quarterly results are a great opportunity for investors to gauge what a theoretically well-positioned firm can do in under such unusual circumstances. While it is too soon to tell if quarantine will have longer-term implications for daily users, subscriber count or profitability for Netflix, the coming results are set to shed light on what is undoubtedly one of Netflix’s most important quarters to date. Therefore, the report may influence broader technology sector sentiment and the Nasdaq 100 as a whole, the thought being that if Netflix underperforms, more traditional businesses may be headed for tougher times.

--Written by Peter Hanks, Junior Analyst for DailyFX.com

Contact and follow Peter on Twitter @PeterHanksFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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