Several analysts left Netflix’s (NFLX) 2026 Upfront annual event bullish on its positioning. While TD Cowen (TD) pointed to the massive growth in the streaming giant’s ad-supported viewer base, JPMorgan (JPM) noted that the entertainment company is showing progress towards becoming the global TV platform for advertisers.
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Netflix’s shares edged lower on Tuesday despite the upbeat comments.
Ad Sales to Account for 25% of Netflix’s Revenue
According to TD Cowen analyst John Blackledge, Netflix at the event held in New York revealed that its global advertising-tier monthly active viewer base has hit 250 million, up by roughly 32% from 190 million as of November. The streaming giant also plans to roll out the ad-supported plans to 15 new markets starting in 2027 while expanding the content and features of the plans.
Blackledge sees Netflix as poised to double its advertising revenue to $3 billion this year, with earnings from this segment accounting for one-quarter of the company’s overall revenue. The five-star analyst reaffirmed his Buy rating on NFLX and set a price target of $112, predicting about 29% upside in the months ahead.
JPMorgan Backs Netflix’s Strategy
Similarly, JPMorgan analyst Doug Anmuth maintained his Buy rating on Netflix’s shares and assigned a price target of $118, suggesting a bigger 36% upside. Anmuth remains upbeat about Netflix’s reach, content strategy, and improving advertising technology.
The analyst added that presentations at the Upfront event show evidence of progress in the streaming giant’s efforts to advance its advertising tech stack. This supports the view that Netflix is effectively becoming a global TV platform for advertisers, Anmuth noted.
Is Netflix a Good Stock Buy?
Across Wall Street, Netflix’s shares remain a Strong Buy based on analysts’ consensus rating. This breaks down into 27 Buys and eight Holds issued over the past three months.
In addition, the average NFLX price target of $115.89 implies over 33% upside in the months ahead.
