BTIG Research becomes the most bullish sell-side on Netflix stock, as it revises its price target from $600 to $950In a research report released on Monday, BTIG Research analysts were enthusiastic about Netflix, Inc. (NASDAQ:NFLX) stock, as the research firm reiterated its Buy rating on the stock and raised its price objective from $600 to $950, representing a potential upside of 44.57% on the stock’s last closing price. The price target also indicates the most bullish outlook for Netflix stock.
According to BTIG Research analyst Richard Greenfield, the online video streaming giant’s business model is gaining momentum, due to strong international expansion and growing demand for its original content.
Mr. Greenfield has upgraded Netflix stock after roughly seven months when the company rated the stock as a Buy with a price target of $600. The research firm said during its last upgrade that the stock recommendation is based on the forecast that “the breakdown in the traditional media ecosystem would benefit Netflix.”While Netflix has exceeded our $600 one-year price target, we believe its business model is gaining meaningful momentum. In turn, we are setting a new one-year price target of $950, up 45%,” Mr. Greenfield quoted in the report. Mr. Green isn’t the only Wall Street analyst optimistic about Netflix. On Friday, an analyst at Oppenheimer, Jason Helfstein, revised Netflix’s price objective from $610 to $800 and reiterated an “Outperform” rating. Mr. Helfstein was positive about the company’s newly launched services in Spain, Portugal, Italy, and Cuba, and believes that its global subscribers can reach 239 million by 2020.
Similarly, analysts at UBS Dough Mitchelson raised its target price on the stock by $122 to $722, citing increasing demand for its original content, such as “Orange Is the New Black” and “House of Cards”, along with strong overseas expansion.
Head trader at Cowen, David Seasburg, foresees the video streaming giant’s stock to reach $1,400. He said: “International growth for Netflix is really the story here.”
According to data compiled at Bloomberg, out of 43 analysts who cover Netflix stock, 24 tag it as a Buy, 14 label it a Hold, and only five rates it a Sell. The 12-month consensus price objective on the stock is $623.15.
Netflix stock soared as high as 2.39% to $672.79 during trading hours today after Pacific Crest upgraded the stock. The stock has surged 96.11% year-to-date (YTD).
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As much as we have studied in this website technical analysis, I should not underestimate fundamental analysis. We have interesting articles that can be useful to understand how companies are behaving: how are their sales? are they investing in new plants? Are they divesting and splitting? This information can be helpful to perform fundamental analysis before investing.
We study assets more in terms of what are these companies doing in long-term investments, what happens with their management accounting and balances in a wide array of securities and markets.
We have studied investments from Netflix, new contracts signed by Orbital, SolarCity earnings report and their negotiation with Tesla for the acquisition of the Powerball battery, the problems that ARCH coal is facing, how IBM is investing in the treatment of the Zika virus, how Moon Express is planning to mine minerals in the moon, and how Citigroup is engaged in commodity trading.
We follow a lot Tesla here, from the fundamental analysis and from the technical as well. See how the Chevy Bolt and the Tesla 3 are dimensioning the evolution of the price of these shares and how this could affect technical analysis, and how the Autopilot functionality is working: the evolution of the Autopilot software has always influenced the prices of their stocks. Tesla Model S 70D is considered the “car of the century”, not by us of course, but we are interested to see how these awards affect the evolution of the stocks. Tesla and other companies signed an agreement so that autobraking became the standard in 2022. A trend in the automobile industry started by Mercedes Benz and Tesla, is having a platform to sell pre-owned vehicles: now General Motors is joining that trend as well.
We have studied how the stock slump of GoPro should be considered not only from the view of technical analysis. Also, check the functionality from Facebook, the “login approval” and if it really protects users or other interests. The reports from Volkswagen about their very low injury claims, how now other companies in China can use the name “IPhone” apart from Apple. We continue in China to learn about the Marketplace Alliance Program from Alibaba, and the joint investment in CloudFlare from Google Inc, Microsoft Corporation, Qualcomm, and Baidu.
About Google, a company we follow a lot here, I want to see how they have entered in the batteries market and how this will affect their current projects and the evolution of the stocks. Interesting are the Chrome updates to decrease CPU usage.
We analyze the effects of the position of Disney in the dispute between Netflix and Time Warner, so we can understand how Disney is shifting its business after selling its stake in Fusion.
We discuss briefly how Oracle adressed the changes in the cloud-computing industry, why Morgan Stanley is optimistic after the pandemic and the Brexit, the divestment in Dell regarding Perot Systems, and the effects of the huge minimum wage rise in Costco. Chipotle is cutting the executive compensation, the issues that BP is facing, what happens with Macy´s earnings and how fundamental analysis can be done in those cases. About Apple, we analyze the effect of the launch of this product Apple Watch where sales performed very irregularly.
I am David, economist, originally from Britain, and studied in Germany and Canada. I am now living in the United States. I have a house in Ontario, but I actually never go. I wrote some books about sovereign debt, and mortgage loans. I am currently retired and dedicate most of my time to fishing. There were many topics in personal finances that have currently changed and other that I have never published before. So now in Business Finance, I found the opportunity to do so. Please let me know in the comments section which are your thoughts. Thank you and have a happy reading.