|Day's range||30.50 - 33.22|
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Netflix (NFLX) stock is becoming increasingly attractive as it innovates its product offerings, according to one Wall Street Analyst. Mark Mahaney, Evercore ISI’s Senior Managing Director & Head of Internet Research points to Netflix’s ad-tier rollout and its subsequent lower priced options as key catalysts for the stock over the next twelve months. Mahaney, who has an outperform rating and $400 price target on the stock for the next year lists Netflix as a top pick in the tech sector. Netflix’s password crackdown weighed on shares over the last several months but have since rebounded as investors shift their focus to the the increased revenue Netflix could gain from more users paying their own way to use the platform, Mahaney argues. The analyst’s price target reflects nearly 30% upside from where Netflix shares closed on Friday and comes along other top picks in the tech sector such as Meta (META) and Uber (UBER). Yahoo Finance’s Seana Smith and Dave Briggs sit down with Mahaney to discuss his bull case for Netflix. Key moments 0:00:05 - Top tech picks 0:00:31- The potential positives for Netflix stock
Over the last 12 months, Netflix (NASDAQ: NFLX) shares have fallen 14%. While the stock is still higher than its May 2022 low point of $177 per share, the company faces a number of headwinds -- not least of which is increasing competition from subscription video on demand (SVOD) rivals. Let's break it down and determine if Netflix is buy-worthy today.