Deciding what to watch on streaming giant Netflix (NFLX) can be a tall order. In fact, any streaming platform can seem like a daunting task these days. But in a bid to further distinguish itself from the growing legion of competitors out there, Netflix has introduced a new tool: Your Zodiac Watchlist. Investors were not amused by this gimmick, and sent shares down fractionally in Thursday afternoon’s trading.
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.
The feature goes live this Saturday—or, as one Netflix rep put it, “When Virgo season officially kicks off”—and will actually deliver recommendations based on your astrological sign. The recommendations will be updated regularly as new astrological seasons start. Reports note some suggestions: for instance, those with the Leo astrological sign, generally considered “confident, generous and loyal,” will be recommended shows like Bridgerton and The Crown.
Another Netflix rep noted, “At Netflix, our team of curators on the member experience team create these themed collections to help members discover something fresh, fun and timely.” How well this works will be anyone’s guess, but we will likely need to see recommendations for every sign before pinning it down. Thankfully, that will not take a full year, as every subscriber will be able to see recommendations for every sign, so Cancers will not have to wait for next summer to get their picks.
Pushing Wrestling Harder
We know that “combat sports” have been getting a bit of a renaissance lately. Warner Bros. Discovery (WBD) just augmented its deal with All Elite Wrestling recently, and Disney’s (DIS) ESPN has been building up Ultimate Fighting. But Netflix has been driving its connection with Raw, and is looking to build on that momentum.
Monday Night Raw has done great things for Netflix, as it routinely appears on the weekly top 10 lists, and has for the last 32 weeks. It gets around three million views per week, and that means a lot of momentum for Netflix to capitalize on. Reports suggest that the partnership is already looking to branch out into other properties like the recent documentary WWE: Unreal.
Is Netflix Stock a Good Buy Right Now?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on NFLX stock based on 24 Buys, 10 Holds, and one Sell assigned in the past three months, as indicated by the graphic below. After a 76.19% rally in its share price over the past year, the average NFLX price target of $1,395 per share implies 16.04% upside potential.
