With the year 2023 drawing towards its end, it has been successful for the stock of the American entertainment and streaming company Netflix (NASDAQ: NFLX), and the experts believe it is a decent buy for the next 12 months, although they do not see a significant increase in its price.
As it happens, the strong growth in the number of its subscribers has provided Netflix with the necessary push that has contributed to an increase of its price by over 60% since the year’s turn, as it advanced from $294.95 on January 3 to its price of $472.06 at press time.
Wall Street weighs in on NFLX stock
With this in mind, a group of 35 Wall Street analysts is generally optimistic regarding the Netflix stock for the next 12 months, rating it as a ‘moderate buy’ with 24 votes for a ‘buy,’ 10 experts suggesting a ‘hold,’ and only one recommending a ‘sell, according to the TipRanks data on December 18.
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At the same time, they have provided 12-month price targets during the last three months, setting the average at $467.93, which would represent a decline of 0.87% to its current price, with a suggested high price of $600 (+27.10%) and a low price of $325 (-31.15%).
Netflix stock price analysis
Currently, the price of the Netflix stock stands at $472.06, which indicates a 0.47% increase on the day, in addition to accumulating a gain of 4.03% across the previous week and advancing 1.09% on its monthly chart, according to the latest information retrieved by Finbold on December 18.
For now, the Netflix stock’s technical analysis (TA) is positive, suggesting steady bullish trends both in the short and the long term, as the stock performed better than 92% of all other assets in the stock market in terms of yearly performance, as well as doing better than 86% of stocks in the entertainment industry.
On top of that, other optimistic signs include the fact that it is currently changing hands near its 52-week high, along with the rest of the S&P 500 index that is near its new highs, and priding itself on an average volume of 5.3 million traded shares per day, which suggests solid liquidity.
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