Shares of Netflix (NASDAQ: NFLX) are down in today’s trading session. This can be attributed to the company’s attempt to improve subscriber growth by slashing prices in over 30 countries by as much as 50%.
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However, to counter the lower prices, Netflix is raising prices wherever it can in markets where it has more pricing power. As a result, it is actively trying to optimize prices as competitors such as Walt Disney (NYSE: DIS), Warner Bros. Discovery (NASDAQ: WBD), and Paramount Global (NASDAQ: PARA) attempt to expand globally as well.
Overall, Wall Street has a consensus price target of $349.41 on NFLX stock, implying almost 10% upside potential, as indicated by the graphic above.