By Sam Boughedda
Investing.com -- Evercore ISI analyst Mark Mahaney reiterated an in line rating and $525 price target on Netflix (NASDAQ:NFLX) Thursday after conducting a survey on U.S. and Japanese users.
Mahaney said the 1,500 respondents in the U.S. quarterly survey were "modestly positive," with penetration reaching a "record high."
However, the analyst revealed respondents that were “Extremely/Very satisfied," came in at 52%, down 9% quarter-over-quarter. Mahaney stated it is the "largest sequential decline in years – we believe this could be due to both rising competition and a negative reaction to the recent price increase."
Feedback from Japan was described as "a mixed bag" with 73% of respondents “Extremely/Very satisfied”, down 1% year-over-year.
Netflix shares rose 3.9% Thursday.
On Wednesday, the company announced they were testing a new approach to password sharing.