Indiegogo Founder: Netflix Is 'Impressive' And 'Incredible,' Won't Bet Against Hastings
Netflix, Inc. (NASDAQ: NFLX) shares slumped by almost 4 percent Monday on back of the stock being downgraded by analysts at Evercore ISI to Sell. However, a lot of people don't agree with the downgrade.
Don't Bet Against Reed Hastings
"If there's any company that's been competing, it's been Netflix – all the way back to Blockbuster and then competing against YouTube, now competing against Amazon and others," Rubin said.
"I think the price is something that people here on the exchange will debate with multiples and such, but I think as a company they are really impressive."
He continued, "People talk about the‘ Internet of Things.' I don't think any company has done a better job of getting their content onto every device than Netflix. I mean, they are already on PlayStation. They are already on the Xbox. They are already on iPhone. Android. They are on the Internet. People get excited about HBO cutting and getting onto Apple; I mean, already you've Netflix on Apple TV.
"I think Netflix is pretty impressive. In the long run I don't bet against Reed Hastings."
An Incredible Company
Rubin was asked if Netflix will face increasing competition from other players, especially mobile messaging services, as cited by the Evercore analysts.
He replied, "I think there's no question that more people want to get more content out there and they are looking to become more mobile. I think Netflix overall is doing well, I think they have huge opportunities into international. I think the price is something other people will debate; I can't say whether you should buy, hold or sell, but I think in the long-run Netflix is an incredible company."
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