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JPMorgan reiterates ‘overweight’ rating on Netflix stock

By: Invezz

March 18, 2024 at 09:58 AM EDT

netflix stock price forecast march 2024

Netflix Inc (NASDAQ: NFLX) is in focus today after JPMorgan reiterated its “overweight” rating on the streaming giant.

Netflix stock will benefit from revenue growth

Douglas Anmuth is impressed of the robust performance by the mass media behemoth.

He’s bullish on Netflix stock because he expects the streaming giant to improve its free cash, expand profit margin, and accelerate revenue growth in 2024.

Anmuth recommends owning $NFLX also because it will continue to scale its advertising business moving forward (find out more).

Watch here: https://www.youtube.com/embed/LOQS79J-2J8?feature=oembed

Netflix is expected to report its quarterly financial results in mid-April. Consensus is for it to earn $4.49 a share versus $2.88 per share a year ago. Shares of the Nasdaq-listed firm are currently up more than 30% versus the start of 2024.

Why else is he bullish on Netflix stock?

Douglas Anmuth is convinced that marketing initiatives and strategic partner deals will help Netflix Inc grow its advertising tier.

He’s bullish on $NFLX also because he expects the $262 billion company based out of Los Gatos, California to continue to refine its Paid Sharing programme.

Both prices and subscriber growth will work in favour of Netflix stock, the JPMorgan analyst told clients in a research note on Monday.

The Nasdaq-listed firm, he concluded, will remain a top choice for streaming movies and TV shows globally on the back of strong content offerings. Netflix shares do not currently pay a dividend yield, though.

The post JPMorgan reiterates ‘overweight’ rating on Netflix stock appeared first on Invezz

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