NFLX Stock Price Target Revision: What Analysts Are Saying About Netflix

Analysts Set Higher Targets for Netflix Stocks

Recently, Netflix (NASDAQ: NFLX) has made waves in the financial markets as analysts from notable firms revise their stock price targets following the company's remarkable Q3 2024 earnings.

Significant Stock Movement

On October 18, NFLX shares soared to an all-time high, trading at $753.72, up 9.61% from the previous close.

Positive Earnings Drive Optimism

With profits climbing by 41% and 5.1 million new subscribers added, Netflix's performance sets a strong tone for Q4.

Price Target Revisions from Analysts

• BMO Capital's Brian Pitz targets $770 - $825 with a Buy rating.
• J.P. Morgan's Doug Anmuth raises his forecast to $850 for a 13.35% upside.
• Morgan Stanley's Benjamin Swinburne sets a target of $830, reiterating a Buy.

Contrasting Views from Other Analysts

Some analysts remain cautious amid potential competition and rising costs:

• Brian White holds a conservative view with a Hold rating.
• Kannan Venkateshwar from Barclays recommends a Sell, citing concerns over future margin expansion.

Outlook and Challenges Ahead

Despite the favorable outlook, analysts are wary of declining average revenue per user (ARPU). Nevertheless, Netflix's focus on capitalizing on password-sharing and boosting its ad revenue stream may support its growth.

Will Netflix Keep Up Its Momentum?

With ongoing subscriber growth and strategic pricing plans, Netflix appears well-positioned to sustain its positive trajectory.