Streaming giant Netflix Inc (NASDAQ:NFLX) reported fourth-quarter financial results after the market close Tuesday.
Here’s a look at what analysts are saying about the report after Netflix beat revenue estimates, missed earnings per share estimates and ended the year with 260.28 million global paid members.
The Netflix Analysts: Macquarie analyst Tim Nollen upgraded shares from Neutral to Outperform and raised the price target from $410 to $595.
Baird analyst Vikram Kesavabhotla has an Outperform rating and raised the price target from $500 to $600.
Piper Sandler analyst Matt Farrell has a Neutral rating and $550 price target.
William Blair analyst Ralph Shackart has an Outperform rating and no price target.
KeyBanc analyst Justin Patterson has an Overweight rating and raised the price target from $545 to $580.
Needham analyst Laura Martin has a Hold rating and no price target.
Related Link: Netflix’s Co-CEO Says ‘Thrilled’ With Password-Sharing Crackdown, Sees Positive Impact On Engagement
Macquarie On Netflix: There was a lot to like in Netflix’s fourth-quarter results, Nollen said.
“Netflix delivered excellent Q4 results and outlook as its efforts to boost subs, revenue and earnings are bearing fruit,” the analyst said.
The analyst said Netflix’s deal with TKO Group Holding (NYSE:TKO) unit WWE announced Tuesday can help grow its audience and advertising revenue.
“WWE Raw changes the game. The 10-year global deal signed today, starting in ’25, can bring a large and engaged year-round audience and can jump-start Netflix’s ad sales effort with large-event live content,” he said.
“We had been waiting for confirmation that Netflix’s moves were paying off. We have that now.”
The analyst said the upside potential for Netflix with its ad-supported plan is now present.
Baird On Netflix: The streaming giant provided an encouraging fourth-quarter update, Kesavabhotla said.
Full story available on Benzinga.com