JPMorgan raised the firm’s price target on Netflix (NFLX) to $850 from $750 and keeps an Overweight rating on the shares post the Q3 report. Netflix continues to deliver strong financial results with Q3 revenue and operating income upside contributing to higher 2024 outlooks for revenue growth, operating margin and free cash flow, the analyst tells investors in a research note. The firm says the company also provided an earlier than expected forecast for 2025 revenue of $43B-$44B, representing growth of 11%-13%, along with an expectation for 28% operating margin. JPMorgan notes that Netflix remains a top pick.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NFLX:
- Netflix Earnings Report: Did it Beat Expectations?
- Closing Bell Movers: Netflix gains 5% as Q3 earnings, Q4 guidance top estimates
- Market to have ‘muted to positive’ reaction to Netflix Q3, says Goldman Sachs
- Netflix says not changing talent compensation structure
- Netflix says approach towards pricing ‘remarkably consistent’ for years