In a report released yesterday, Maria Ripps from Canaccord Genuity maintained a Buy rating on Netflix, with a price target of $1,525.00.
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.
Maria Ripps’s rating is based on Netflix’s robust financial performance and strategic advancements. The company reported strong Q2 results, with revenue and profitability exceeding expectations, driven by favorable foreign exchange impacts and solid membership growth. This growth was consistent across all regions, with notable acceleration in the UCAN and EMEA markets. Additionally, Netflix’s advertising business is showing promising progress, with ad revenue expected to double year-over-year, supported by a successful rollout of its Ads Suite and positive advertiser reception.
Furthermore, Netflix’s forward-looking guidance is optimistic, with Q3 revenue and profitability projections surpassing consensus estimates. The company has also increased its FY25 revenue and operating income margin guidance, reflecting continued membership growth and advertising momentum. Netflix’s evolving content slate, stable platform engagement, and strategic partnerships, such as the one with TF1 for live programming, further bolster its growth prospects. These factors collectively underpin Maria Ripps’s Buy rating for Netflix, with a price target of $1,525.
Ripps covers the Communication Services sector, focusing on stocks such as Netflix, Nexxen International, and Spotify. According to TipRanks, Ripps has an average return of 22.1% and a 50.94% success rate on recommended stocks.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $1,450.00 price target.