Netflix (NFLX, Financial) held steady Thursday after jumping 15% the previous day, fueled by strong Q4 earnings and 19 million new subscribers.
The company credited its growing gaming strategy, highlighting Take-Two Interactive's (TTWO, Financial) "GTA: San Andreas", which saw tens of millions of downloads. Co-CEO Gregory Peters called Netflix's gaming efforts "just scratching the surface," pointing to early success with Oxenfree II and popular titles tied to Netflix franchises like Too Hot to Handle, Emily in Paris, and Selling Sunset.
The company's latest release, Squid Game: Unleashed, hit No. 1 in action games across 107 countries, on track to become Netflix's most downloaded game. Take-Two is also benefiting. After a 23% six-month rally, Oppenheimer raised its price target to $215 from $190, keeping an Outperform rating. Stifel analysts also boosted their target, citing Take-Two's strong development pipeline as a key earnings driver.
