April 21 - Netflix (NFLX, Financial) climbed about 2% to $973 following its robust first-quarter earnings report released April 17, which topped Wall Street expectations on both revenue and profit.
After the earnings, Co-CEO Greg Peters said the company remains attentive to macroeconomic conditions but sees no immediate concerns impacting performance. His upbeat tone was echoed by analysts, who raised their price targets and reaffirmed bullish views on the stock.
BMO Capital Markets analyst Brian Pitz lifted his price target to $1,200 from $1,175 while maintaining a Buy rating. Pitz pointed to the successful April launch of Netflix's U.S. ad-supported tier, with a global rollout planned for the second quarter. He expects advertising revenue to double in 2025, fueled by higher user engagement and flexible pricing.
Netflix also aims to expand its ad-tech capabilities across 10 remaining markets, a move analysts say could attract more large-scale advertisers. Additional gains may come from small and medium-sized businesses as Netflix enhances targeting tools with AI integration by 2026.
TD Cowen's John Blackledge also reiterated a Buy rating with a $1,150 price target, citing strong quarterly performance and confidence in Netflix's full-year outlook.
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