Skip to content

AI predicts Netflix stock price for end of 2024

AI predicts Netflix stock price for end of 2024

After experiencing a protracted growth period throughout the streaming boom driven by the COVID-19-induced lockdowns, the shares of the American entertainment giant Netflix (NASDAQ: NFLX) faced a quick and sharp decline. 

Indeed, the entertainment stock rose from approximately $350 in early 2020 to a peak of just under $700 in late 2021, only to crash down to $190 in the first months of 2022. 

Still, while the downturn spurred on by rising competition and prices and a declining user base presented a significant setback, Netflix did start showing signs of recovery by the late spring of 2023.

In the last 52 weeks, NFLX stock is a solid 46.32% in the green and has climbed to $478.61 by press time. The company also continued growing into the first weeks of 2024 and is up 1.88% since January 1.

Finally, while being in the green overall, NFLX shares have been rather choppy over the last 30 days as they only had 12 positive days – 40% of the month.

NFLX 1-year price chart. Source: Finbold

Despite the uptrend, the future of Netflix remains relatively uncertain – particularly in the face of stiffening competition, which has, in many ways, diminished the value offered by each individual streaming platform. 

With this in mind, Finbold decided to consult the AI-driven predictive algorithms of CoinCodex and see where NFLX might find itself at the tail-end of 2024.

AI forecasts NFLX price

The machine learning algorithms of CoinCodex are, perhaps surprisingly, highly bullish on Netflix’s prospects. The platform forecasts that the shares of the entertainment company will rise as high as $1,222.82 by December 31, 2024. This constitutes a staggering upside of 155.49%.

NFLX 1-year forecast. Source: CoinCodex

What is even more surprising is that the AI estimates that the bulk of this rally will happen in a relatively short time frame – in the final three months of the year. Plotting the entire year, the algorithm sees Netflix rallying somewhat in the coming 30 days before turning slightly downward – especially between June and October.

While the long-term prospects appear strong for the company, at least judging from the algorithm, the current market sentiment, according to the “Fear & Greed Index,” is “Fear,” and investors are – for the time being – neutral on the stock.

NFLX statistics and sentiment. Source: CoinCodex

AI vs. Wall Street: who is more bullish on NFLX?

As it turns out, AI-driven algorithms aren’t the only ones bullish on Netflix. The 34 analysts taken into account by TipRanks rank the company as an overall “moderate buy.” Out of them, 25 believe investors should buy the stock, and 9 believe it is a “hold.” None recommend selling.

NFLX 1-year target. Source: TipRanks

The analysts’ price forecasts are somewhat more conservative. The average 12-month price target stands at $496.63 – a 3.95% upside instead of 155.49%. Additionally, even the high estimate of $600 is significantly below the algorithm’s $1,200, and some even see NFLX fall as low as $390 before the year’s end.

Buy stocks now with Interactive Brokers – the most advanced investment platform

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in 70+ cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10.

  • Copy top-performing traders in real time, automatically.

  • Regulated by financial authorities including FCA and FINRA.

2.8 Million Users
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.

Read Next:

Weekly Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts