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This Top Consumer Discretionary Stock is a #1 (Strong Buy): Why It Should Be on Your Radar

It doesn't matter if you're a growth, value, income, or momentum-focused investor -- building a successful investment portfolio takes skill, research, and a little bit of luck.

Should You Buy #1 (Strong Buy)-Ranked Netflix (NFLX) for Your Portfolio?

Netflix was upgraded to the Zacks Rank #1 list on May 3, 2024. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.

Netflix is considered a pioneer in the streaming space. The company evolved from a small DVD-rental provider to a dominant streaming service provider, courtesy of its wide-ranging content portfolio and a fortified international footprint. At the end of the first quarter of 2024, the company had 269.6 million paid subscribers globally.

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For fiscal 2024, 12 analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $1.26 to $18.30 per share. NFLX boasts an average earnings surprise of 9.3%.

Earnings are expected to grow 52.1% for the current fiscal year, while revenue is projected to increase 14.7%.

Even more impressive, NFLX has gained in value over the past four weeks, up 11.9% compared to the S&P 500's gain of 5.8%.

Bottom Line

With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Netflix could be just the stock to help your portfolio generate returns that could fund your retirement, your kids' college tuition, or your short- and long-term savings goals.

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Netflix, Inc. (NFLX) : Free Stock Analysis Report

Zacks Investment Research