Netflix Could Monetize 40M Borrowers By End Of 2024, Analysts See Over 25% Upside
Portfolio Pulse from Surbhi Jain
Netflix (NASDAQ:NFLX) reported strong Q1 2024 earnings, with a 14.8% year-over-year revenue increase to $9.37 billion and EPS of $5.28. The company is on track to monetize about 40 million borrowers by the end of 2024, converting account sharers into paying customers. This strategy, along with an ad-tier plan, is expected to drive further growth. Analysts from Evercore ISI Group, B of A Securities, and Oppenheimer project a 26.03% upside for NFLX, with an average price target of $691.67.

April 25, 2024 | 2:20 pm
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Netflix's Q1 2024 earnings beat expectations with significant revenue and subscriber growth. The company's strategy to monetize borrowers and introduce an ad-tier plan is expected to drive further growth, with analysts projecting a 26.03% stock price upside.
Netflix's impressive Q1 2024 performance, combined with its strategic initiatives to monetize account borrowers and the introduction of an ad-tier plan, are key drivers for the projected stock price increase. Analysts' bullish outlook, with a significant price target upside, underscores the confidence in Netflix's growth trajectory and its ability to capitalize on its expanding subscriber base.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100