John Blackledge, an analyst from TD Cowen, maintained the Buy rating on Netflix (NFLX – Research Report). The associated price target remains the same with $1,150.00.
John Blackledge has given his Buy rating due to a combination of factors that highlight Netflix’s strong positioning in the market. He anticipates a 12% year-over-year revenue increase for the first quarter of 2025, driven by significant member growth trends. Despite macroeconomic challenges, Netflix is seen as a defensive stock, benefiting from its global content slate and the introduction of popular series like ‘Wednesday’ and ‘Stranger Things’ in 2025.
Additionally, Netflix’s value proposition is strengthened by its low-priced ad tier available in major markets, and the secular shift towards streaming video continues to support its growth. The company’s recent price increases in several countries are expected to enhance average revenue per member, and the planned rollout of first-party ad technology in the U.S. further bolsters its outlook. With Netflix’s stock trading at a relatively attractive valuation compared to its earnings growth estimates, Blackledge views the recent market pullback as a buying opportunity.
In another report released on April 3, Guggenheim also maintained a Buy rating on the stock with a $1,100.00 price target.