Canaccord analyst Maria Ripps has revised the price target for Netflix (NFLX, Financial), elevating it to $1,200 from $1,150 while maintaining a Buy rating on the stock. This update follows Netflix's impressive performance in the first quarter, where the company reported revenue approximately 1% above market expectations and demonstrated significant profitability beyond their guidance.
The solid financial results were buoyed by strong membership additions in the previous quarter, with Netflix experiencing consistent trends in acquiring and retaining subscribers. These factors contributed to a robust growth in the number of members during the quarter, reinforcing the optimistic outlook reflected in the adjusted price target.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 44 analysts, the average target price for Netflix Inc (NFLX, Financial) is $1,094.99 with a high estimate of $1,494.00 and a low estimate of $644.50. The average target implies an upside of 12.53% from the current price of $973.03. More detailed estimate data can be found on the Netflix Inc (NFLX) Forecast page.
Based on the consensus recommendation from 50 brokerage firms, Netflix Inc's (NFLX, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Netflix Inc (NFLX, Financial) in one year is $655.44, suggesting a downside of 32.64% from the current price of $973.03. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Netflix Inc (NFLX) Summary page.
