Walt Disney (DIS) plans to report its fourth quarter 2021 earnings on November 10. The company owns his media platform Disney+ and television networks such as ESPN.
Undoubtedly, the pandemic has had a major impact on Walt Disney’s business. Fortunately, the tide is starting to turn, with visitors returning to theme parks and Disney+ continuing to win subscribers, as seen in the company’s strong third quarter earnings.
Well, ahead of the printing of the fourth quarter, we used TipRanks to analyze trends in Walt Disney’s website traffic to get a better sense of the company’s status.
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Walt Disney website traffic is on the rise
Visits to Disney’s website increased in the fourth quarter, according to TipRanks’ website traffic tool.
In the fourth quarter, Disney’s media platform, Disney+, had 288.7 million unique visitors across all devices, up 74.5% year-over-year and up 4.7% quarter-over-quarter.
Another good news is that the number of unique page visits from January to September 2021 increased by 81.4% compared to the same period last year.
Additionally, global traffic to Disney’s ESPN+ website increased 17.9% on a month-to-month basis in September. Additionally, his website traffic has increased by 2.6% since the beginning of the year.
It provides insight into the company’s fourth quarter performance. More website visits don’t necessarily mean more revenue, but they do indicate that more consumers or potential customers are visiting the site to learn more about a company’s products and services.
Studying website traffic by region
To get some additional information from your website traffic data, let’s look at the data by region.
The United States accounted for over half of all user traffic in September. Meanwhile, the UK and Brazil account for her 6.7% and her 6.4% of total visits respectively. Other countries such as Germany, Canada and France account for less than 5% of total user traffic.
Investors should note that Disney CEO Bob Chapek expects fewer paying subscriber additions in Q4 compared to Q3. At Goldman Sachs’ annual Communacopia conference, Chapek said the company’s global paying subscribers were in the “low single digits” in the fourth quarter, compared with his 14.7 million in the third quarter. predicted that it would likely increase.
In addition, risks related to pandemic-related breakouts in the company’s amusement park, hotel and cruise businesses remain.
How to see Wall Street
Ahead of the fiscal fourth quarter results, JP Morgan analyst Alexia Quadrani reaffirmed her buy rating on the stock with a price target of $230. Quadrani said he expects Disney+ subscribers to grow significantly in fiscal 2021, and believes the significant increase in subscribers will help the company’s stock price rise.
But analysts have lowered their forecasts for Disney+ subscribers in 2022, 2023 and 2024 to 164 million, 210 million and 235 million respectively.
Looking to the rest of the street, Walt Disney stock has a strong buy consensus rating based on 15 buys and 4 holds. In terms of price targets, the average DIS price target of $215.06 implies a potential upside of 22.5% from current levels.
Disclosure: At the time of issuance, Shalu Saraf did not have any positions in any of the securities referred to in this article.
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