Netflix's stock has surged nearly 40% the past six months, and the future looks just as bright. The actors' and writers' strikes that have brought content...
Netflix Inc.’s stock has surged nearly 40% the past six months and the future looks just as bright, with the actors’ and writers’ strikes that have brought content production to a halt in Hollywood potentially helping Netflix even more in the second half of the year.
“[Netflix’s] paid sharing coupled with the ad tier rollout should drive [long-term revenue] upside, and the launch of paid sharing in [the second quarter of 2023] along with the ramping ad tier should help drive membership [and revenue] growth in [the second half of 2023],” Cowen analyst John Blackledge wrote in a note last week, in which he maintained an outperform rating and a $500 price target on the stock.
What to expect Earnings: Analysts surveyed by FactSet on average expect Netflix to report second-quarter earnings of $2.85 a share, down from $3.20 a share a year ago. At the end of March, analysts had predicted $3.05 a share. Stock movement: Shares of Netflix have soared 53% this year. The S&P 500 SPX is up 18% so far in 2023.
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