Veteran Investor Remains Bullish on NFLX Stock

Netflix, Inc. (NASDAQ:NFLX) has been "hitting on all cylinders," and the company has benefited from letting consumers save money on its service, Jason Snipe, who owns NFLX, said on CNBC yesterday.

A frequent guest on CNBC, Snipe is the Founder and Chief Investment Officer of Odyssey Capital.

Strong Q1 Results and a Beneficiary of Consumers "Trading Down"

Netflix, Inc. (NASDAQ:NFLX) reported " really good" Q1 results as its earnings per share jumped 25% versus the same period a year earlier, while its revenue advanced 12% YOY, Snipe reported.

And Netflix, Inc. (NASDAQ:NFLX) has enabled consumers to save almost $20 per month on the streaming service by trading down to its ad tier, the investor noted. This has been a "huge winner" for the company, he said.

Snipe's Bottom Line on Netflix, Inc. (NASDAQ:NFLX)

"I continue to like this name going forward," the investor concluded.

The Recent Price Action of NFLX Stock

In the last month, the shares have climbed 14%, while they are also up 14% in the last three months.

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Disclosure: None. This article is originally published at Insider Monkey.