-The Walt Disney Company reported better-than-expected earnings per share on Thursday, but that didn’t stop its stock price from taking an after-hours nosedive.
-That’s because the entertainment giant reported slower-than-expected growth for its Disney Plus streaming service. The service now has 103.6 million paid subscribers, versus a consensus estimate of 109 million cited by CNBC.
-The hit underscores the extent to which Disney—a diverse conglomerate with theme parks, TV networks, movie studios, and a vast consumer products division—is now wholly reliant on one metric. “Nothing else seems to matter,” analysts MoffettNathanson said in a research note Friday.
Our Target:
Disney is a strong stock, we don't think it will drop below $165 just because of the slightly below the expectation subscriptions. However, due to the whole market situation which is bearish for the last couple of weeks, there is a possibility that Disney will let go of some of its heat. If DIS will fail to keep the nose above the $165 then we can potentially see the $145-147.
-That’s because the entertainment giant reported slower-than-expected growth for its Disney Plus streaming service. The service now has 103.6 million paid subscribers, versus a consensus estimate of 109 million cited by CNBC.
-The hit underscores the extent to which Disney—a diverse conglomerate with theme parks, TV networks, movie studios, and a vast consumer products division—is now wholly reliant on one metric. “Nothing else seems to matter,” analysts MoffettNathanson said in a research note Friday.
Our Target:
Disney is a strong stock, we don't think it will drop below $165 just because of the slightly below the expectation subscriptions. However, due to the whole market situation which is bearish for the last couple of weeks, there is a possibility that Disney will let go of some of its heat. If DIS will fail to keep the nose above the $165 then we can potentially see the $145-147.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.