Increased Netflix price prediction by a previous Bear.
Streaming giant Netflix is wowing analysts and investors alike following a stellar fourth quarter. With a whopping 19 million new subscribers and significant revenue and profit growth, Netflix is evidently on the front foot.
First, let's talk numbers. Revenue increased substantially, fueled by the influx of new subscribers. And profit? Let's just say it's doing better than ever. In fact, it's hitting records. But Netflix isn't content just basking in its success—it's aiming for more.
The company has been teasing snippets of upcoming shows like "Stranger Things", "Squid Game", "Wednesday", "The Witcher", "Black Mirror", and "Love is Blind", and these sneak peeks have analysts rethinking their previous skepticism. One such analyst is Barton Crockett from Rosenblatt Securities, who was critical of Netflix due to its P/E ratio but has now jumped ship.
Crockett has upgraded his rating for Netflix stock from "Neutral" to "Buy". And not just that—he's forecasting a substantial increase, to $1,494. That's a hefty 50% upside from the current price for investors who take his advice. But here's where it gets real interesting. Crockett isn't alone in his bullish stance. He's joined by 28 other Wall Street analysts, who all recommend buying the stock. On average, they're predicting a price of $1,103.
But remember, analysts aren't fortune tellers. They make predictions based on factors like Netflix's financial health, performance, and growth rate, and its comparative edge in the streaming market. Crockett and others believe Netflix will keep its lead in streaming, backed by continued subscriber growth, a wise content strategy, and sound financial discipline.
It's not just the content that's driving Netflix's bullish outlook. There's also the advertising business gaining traction and the commitment to live sports content. In fact, Netflix will be the exclusive broadcaster for the women's football World Cup in the USA in 2027 and 2031.
So, there you have it. Netflix is showing no signs of slowing down, and with analysts like Barton Crockett aboard the hype train, it's looking like 2022 could be another big year for the streaming giant. Buckle up!
Sources:
[1] Yahoo Finance
[2] Bloomberg
[3] Netflix Filings & Reports
In light of Crockett's positive outlook, Netflix's financial health, investing in content, and exploring new avenues such as advertising and live sports, seems promising for the tech-driven finance sector. Analysts, including Crockett, are forecasting substantial growth for Netflix stock, further signaling its potential for investors in the coming years.
