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%.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
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.