While investors laid a smackdown on the major indexes Monday, Netflix stock flirted with a buy point.
Netflix, home to the pro wrestling series "WWE Raw," late Thursday delivered a knockout performance for the first quarter. It handily beat estimates for sales and earnings in Q1 and guided higher than views for the current period.
Last week, at least seven Wall Street firms raised their price targets on Netflix stock after the company's earnings report.
On Monday, 10 more firms upped their price targets on the streaming video leader.
However, on the stock market today, Netflix stock struggled to stay above a buy point of 998.70 from a double-bottom base, according to IBD MarketSurge charts. The trading action occurred as the major indexes, including the S&P 500 and Nasdaq, were kicked in the face.
Netflix stock ended the regular session up 1.5% to 987.91. Earlier in the session, it was up as much as 4.7% to 1,019.
Wedbush Securities analyst Alicia Reece reiterated her outperform rating on Netflix stock and upped her price target to 1,200 from 1,150.
"Netflix has established a virtually insurmountable lead in the streaming wars," Reece said in a client note. "We expect price increases to drive revenue growth in 2025, and the ad tier to drive revenue higher in 2026."
Netflix Stock Called 'Safe Harbor'
Macquarie analyst Ross Compton kept his outperform rating on Netflix stock and increased his price to 1,200 from 1,150.
"Netflix's premium valuation is likely supported by investor flight to safety," Compton said in a report. "Moreover, its ad tier represents a broadened (increased access at lower price) and deepened (better monetization per hour of engagement) that comfortably paves multiyear double-digit top-line growth."
Rosenblatt Securities analyst Barton Crockett said Netflix stock is a "safe harbor equity at a time of macro uncertainty."
Crockett maintained his buy rating on Netflix stock and raised his price target to 1,514 from 1,494.
Netflix's full-year guidance appears conservative, Crockett said in a client note.
"Netflix, by the way, said it is feeling no macro headwinds right now — in subscription uptake, ad sales, or anything — and endorsed the notion that its service is positioned to be durable in tough macro periods," he said.
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