Netflix, Inc. (NFLX) Up 45% This Year, Analysts See Further Upside

Netflix, Inc. (NASDAQ:NFLX) is among the 13 Best Big Name Stocks to Buy Now. Last week, two Wall Street analysts lifted their price targets for the stock, suggesting that it could continue to see growth ahead. The company’s shares are already up by over 45% year-to-date.

On June 20, Pivotal Research raised its price target for Netflix, Inc. (NASDAQ:NFLX) to $1,600 from $1,350, while reiterating a Buy rating for the stock. The analysts cited confidence in the company’s market dominance and robust valuation metrics as the reasons behind the adjustment.

Jeffrey Wlodarczak said the following in a client note:

“Our positive Netflix investment view remains unchanged. Netflix remains underpenetrated globally, offers an extremely compelling price-to-entertainment value boosted by their ad-supported offering.”

The firm noted that Netflix, Inc. (NASDAQ:NFLX)’s scale remains a critical competitive advantage. They also expect the company to benefit as rivals offload premium library content.

On the same day, analysts at Wells Fargo also lifted Netflix, Inc. (NASDAQ:NFLX)’s price target to $1,500 from $1,222, representing a 16% upside potential from its current trading value. The overall sentiment around the stock remains bullish, with Wall Street analysts having a consensus Buy rating for the stock.

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Disclosure: None.