There’s nothing quite like an analyst’s praise to give a stock a boost. The amount generally varies, and sometimes it doesn’t even work, but it often does. Video streaming giant Netflix (NASDAQ:NFLX) proved as much after Evercore analysts came out in its favor and sent shares up fractionally in the closing minutes of Tuesday afternoon’s trading.
Evercore, via five-star analyst Mark Mahaney, offered a note on Netflix that was about the high water mark for the company’s overall outlook. Mahaney believes that Netflix is running about as well as it can right now and kept his Outperform rating on the stock. He also hiked the price target, going from $650 to $700 per share.
Mahaney called Netflix a “…small buy for us here” because it’s pretty much as good as it can get. In addition, he stated that “…Netflix is in the strongest position financially, fundamentally, and competitively that we have ever seen.” It’s worth noting that, so far, Baruah has enjoyed a 74% success rate on NFLX stock, with an average return of 23.73% per rating.
Getting Even Better
But can things improve at Netflix? Well, there are signs that it’s working to do just that. A New York Times report took a look at how Netflix is out to improve on its current position. One of the biggest plans for that is to amplify the search for new material worldwide. An interview with Ted Sarandos, Netflix’s CEO, details how “Squid Game” started life as a movie before Netflix suggested its creator break it down into a series. And a look at what’s coming to Netflix in June alone suggests more content than any one person could watch between now and July…of 2025. Well, maybe not that much, but it’s still a lot.
Is Netflix a Buy, Sell, or Hold?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on NFLX stock based on 23 Buys, 12 Holds, and one Sell assigned in the past three months, as indicated by the graphic below. After a 64.89% rally in its share price over the past year, the average NFLX price target of $658.20 per share implies 1.54% upside potential.
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