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Netflix’s stock gets price-target hikes
Netflix’s breakthrough in live events is expected to help it add to its global subscriber base and grow its advertising segment into a core revenue driver by 2026.
Kieran Ryan
November 25, 2024
In partnership with
TODAY’S STORY
Netflix shares finished up more than 10% last week, their biggest weekly gain since January, and a growing number of analysts think the stock will keep soaring.
The streaming company shared that the boxing match between Jake Paul, a 27-year-old social media influencer turned fighter, and 58-year-old former heavyweight champion Mike Tyson was the most-streamed global sporting event ever, with 65 million live concurrent streams and 108 million total live viewers worldwide.
This past week, several brokerages raised their price targets on the stock, including BofA Managing Director Jessica Reif Ehrlich, who bumped her target to $1,000 from $800, and Jefferies analyst James Heaney, who raised his 12-month target on Netflix to $1,000 as well.
Netflix’s breakthrough in live events is expected to help it add to its global subscriber base and grow its advertising segment into a core revenue driver by 2026.
The stock is now up 91% year-to-date.
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Kieran & Justin Ryan
