Analysts Forecast Further Upside For Netflix, Inc. (NFLX) Ahead of Q3 Earnings

Netflix, Inc. (NASDAQ:NFLX) is among the 14 Best Big Name Stocks to Invest in Right Now. Earlier this month, two analysts shared their ratings and price targets for the stock, suggesting that it could continue to see growth ahead. The company’s shares are already up by 35% year-to-date.

On October 7, Seaport Global analyst David Joyce upgraded the video-streaming giant’s rating to Buy from Neutral and assigned a price target of $1,385 for its shares, representing an upside potential of 15% from Wednesday’s close.

The firm noted that while Netflix Inc.’s (NASDAQ:NFLX) share price momentum appears to be moderating, investors might be digesting the significant returns so far this year, as excitement builds around the company’s monetization momentum related to its advertising infrastructure build.

Seaport would be a buyer of the stock ahead of its Q3 earnings call on October 21, Joyce told investors in his pre-earnings research note.

In other related news, analysts at Itau BBA initiated coverage of Netflix Inc. (NASDAQ:NFLX) on the same day with an Outperform rating and a price target of $1,514.

The overall sentiment around the stock remains positive, with Wall Street analysts having a consensus Buy rating for the stock and an average share price upside potential of 11.9%.

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