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Wall Street sets Netflix stock price for the next 12 months

Wall Street sets Netflix stock price for the next 12 months

While leaving its once-formidable rival – Blockbuster – in the dustbin of history and emerging as one of the world’s most recognizable entertainment platforms – likely second only to Disney (NYSE: DIS) – Netflix (NASDAQ: NFLX) has been on a major ride to the highest of highs and some fathomless lows in recent years.

Indeed, after its stock reached a staggering all-time high (ATH) of nearly $700 per share during the COVID-19 lockdowns, it subsequently experienced a significant decline, falling to as low as $170 in early 2022.

Netflix has, however, been on a steady path of recovery since gaining 35.28% in the last 52 weeks and even holding steady in the uncertain initial weeks of 2024, being 5.06% in the green.

NFLX 52-week chart. Source: Finbold

Additionally, Netflix is poised for a major 24-hour jump on Wednesday, January 24, as it rose approximately 10% in the day’s pre-market trading – and up to +13.19% immediately upon the market’s open – on optimism driven by record-breaking subscriber growth and expectations that subscription prices will only rise higher this year.

Analyst 12-month rating for Netflix

Judging by the opinions of 34 analysts represented on the stock analysis platform TipRanks, optimism about Netflix’s future is not confined solely to the short term.

In fact, the overall expert recommendation for investors with regard to NFLX is that they should buy the stock. Indeed, 22 of the analysts rate the stock as a “buy,” and only 1 believes that selling is the right call. 

The final 11 are, at the time of publication, neutral on the entertainment giant.

NFLX analyst rating. Source: TipRanks

A similar attitude is reflected among the 51 experts analyzed by TradingView. On this platform, the company has an overall buy rating with 23 “strong buys” and 7 regular “buys.”

Another 18 recommend holding the stock, while a total of 3 analysts urge traders and investors to sell it.

The 12-month price targets for NFLX are similarly bullish. The average forecast stands at $542 – a 10.13% upside compared to the current price – while some estimates place the figure as high as $700 – near its previous ATH. Some analysts, however, also warn that a downside is possible and that it could take the streaming platform as low as $404 per share.

NFLX technicals. Source: TradingView

Finally, technical analysis (TA) of Netflix stock also gives cause for optimism as it, overall, ranks the company as a buy with moving averages, even painting it as a “strong buy.’ The firm is, however, a “hold,” based on Oscillators.

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