Piper Sandler has elevated its price target for Netflix (NFLX, Financial) shares, increasing it from $1,100 to $1,150. The ongoing Overweight rating reflects the firm's confidence in Netflix's performance following an impressive first quarter.
The streaming giant exceeded expectations with its revenue and operating income surpassing forecasts by 1% and 13%, respectively. Additionally, the second quarter guidance has been described as robust, indicating minimal impact from broader economic conditions.
Piper Sandler regards Netflix as a resilient investment option, noting several factors that could drive further growth. The company's full-year guidance remains unchanged, positioning it favorably for the latter half of 2025.
