Evercore ISI has increased its price target for Netflix (NFLX, Financial) from $1,100 to $1,150, maintaining an Outperform rating on the stock. This move comes after the streaming giant delivered impressive first-quarter earnings results, which the firm described as "Beat & Raise Q1 EPS results."
The decision to elevate the price target is largely influenced by Netflix's record-high operating margins during the first quarter and its optimistic guidance for the second quarter. Evercore ISI expresses significant confidence in Netflix's potential for long-term margin growth, attributing it to these financial achievements.
Investors are taking note of Netflix's robust performance, as reflected in these upward revisions of projections, reinforcing the firm's positive outlook on the stock.
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.
