The morning after Universal’s “Oppenheimer” won seven Oscars, Netflix’s “Maestro” won none, but after all, Oppenheimer is helping Netflix. No, I’m not talking about the Cillian Murphy movie.
Oppenheimer, a brokerage and investment bank, on Monday raised its price target on Netflix stock (NFLX) to $725 from $615. The victory was short-lived, but Netflix’s stock price soared Monday morning. NFLX ended the day in a close second. No, it could have been worse.
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Other Oppenheimer (& Co.) could help Netflix more than other Oscars: The Academy Awards are just awards. plated In gold. (It’s a solid bronze color.) Netflix stock is already doing well, up 28% since the beginning of the year. In 12 months, its value has more than doubled.
NFLX stock has never reached $700, but it got pretty close to it in October 2021. Then came the massive “Netflix fix” where Netflix shockingly reported a loss of subscribers. The moment sent shockwaves through the streaming industry, causing Wall Street to prioritize profitability over growth when evaluating streamers.
Mr. Oppenheimer’s $725 forecast is quite bullish. NFLX stock is currently trading at around $600.
Analysts led by Jason Helfstein believe that Netflix’s average revenue per member (ARM, most We believe that ARPU) will continue to rise in 2024. Helfstein said Netflix could add 17 million more U.S. subscribers over the next three years, ultimately capturing 60 percent of the 100 million users Netflix initially claimed were leaving the service. I predict that.
Netflix currently has just over 260 million subscribers worldwide, adding more than 13 million subscribers in the last quarter, marking its best fourth quarter growth ever. (Wall Street had expected it to add 8 million.) The company has been aggressively pushing growth in its ad-supported tier, which would give Netflix a higher ARM than its standard ad-free tier. can be produced. Proactive promotion is also a marketing strategy. Many subscribers still don’t know that Netflix serves ads on its service.
The streamer had the most Oscar nominations of any individual studio participating in Oscar Sunday, but only one result was for Wes Anderson and his live-action short film “The Wonderful Story of Henry Sugar.” Netflix will soon have a new head of film named Dan Lin, who hopes to bring in more money for the company in a variety of ways.
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