Netflix needs to evolve for the stock to continue its stellar run, says Gene Munster

Netflix needs to evolve for the stock to continue its stellar run, says Gene Munster

Tech investor Gene Munster on Tuesday questioned whether Netflix's stock will be able to continue its stellar appreciation in recent years, and suggested that the streaming giant will need to evolve its business to keep delivering robust returns for investors.Shares of Netflix were down nearly 6% Tuesday following the company's latest quarterly earnings report, in which it missed analyst expectations on subscriber additions and earnings per share. Revenues of $6.44 billion topped forecasts of $6.38 billion, however.There's no question Netflix's growth strategy — from a company sending DVD rentals by mail to an Academy Award-winning entertainment company — has delivered remarkable gains for investors, said Munster, a former Wall Street tech analyst turned venture capitalist. Netflix's stock has soared about 425% in the last 5 years, outpacing the S&P 500,