What's Going On With Netflix Stock Wednesday?
Portfolio Pulse from Anusuya Lahiri
Netflix Inc (NASDAQ:NFLX) has seen a resurgence in its user base in the U.S., with about 2.6 million Americans registering for the service in the recent month, according to Antenna. This is despite a 26% dip from the previous month. Nearly a quarter of these new users opted for Netflix's ad-supported plan, which was introduced last November. In Q2, Netflix reported a net increase of 1.17 million new accounts in North America, bringing its total subscribed users in the region to 75 million. Oppenheimer analyst Jason Helfstein reiterated Netflix with an Outperform and a $515 price target.
August 23, 2023 | 1:43 pm
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POSITIVE IMPACT
Netflix's recent growth in user base and analyst's positive rating could potentially boost its stock price.
The news of Netflix's user base growth in the U.S. and the positive rating from Oppenheimer analyst could potentially have a positive impact on its stock price. The introduction of the ad-supported plan seems to be working in favor of the company, attracting new users. This, coupled with the analyst's Outperform rating and a $515 price target, indicates a positive outlook for the company's stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100