Netflix Stock Rose 5% After Positive Results

Netflix Stock

Netflix Stock (NASDAQ:NFLX)

Investors have shown increased excitement for Netflix (NASDAQ:NFLX) after the company just released its results for the fourth quarter, which increased its stock price by more than 5% on Monday.

On Thursday, Wall Street was thrilled by Netflix (NASDAQ:NFLX) when the company said it had attracted 7.6 million new customers during the fourth quarter of 2022. This figure was far higher than the 4.5 million customers that Netflix (NASDAQ:NFLX) had anticipated and the 4.1 million users that industry experts had anticipated the firm would publish.

Joseph Bonner, an analyst at Argus Research, said on Monday that Netflix (NASDAQ:NFLX) may face some unfavorable reactions in the coming months as it takes procedures to bring in money from consumers who give their passwords. Bonner made this statement in response to a question about whether or not the company has already received this reaction. However, he increased his price objective on the company’s shares from $340 to $390 per share. He did not change his buy recommendation on Netflix stock.

Bonner said that even though the firm is going through a tough time due to severe competition and economic headwinds, it is still the “anchor tenant” for customers in the video streaming industry.

On Friday, J.P. Morgan analyst Doug Anmuth’s positive remarks added to Netflix’s (NASDAQ:NFLX) gains. On that day, Mr. Anmuth reaffirmed his buy recommendation on Netflix stock. He raised his price objective on the company to $390 per share.

“Netflix’s content cadence has become more normalized and more effective than the choppiness observed during the epidemic,” said Anmuth. “This is in comparison to the disruptions encountered during the pandemic.”

When co-CEO Reed Hastings said he would be stepping aside from day-to-day operations to focus on becoming executive chairman, Netflix had no negative response.

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