Internet television network Netflix (NFLX) is outpacing the competition in scale and profitability. And Netflix stock is in record high territory as a result.
↑
X
Cord Cutting Drives Media Shake-Ups — Why More Are Coming
CFRA Research analyst Kenneth Leon on Wednesday reiterated his buy rating on Netflix stock and raised his price target to 810 from 725.
On the stock market today, Netflix stock dipped a fraction to close at 721.56. Earlier in the session, it notched an all-time high of 725.12.
On Aug. 20, Netflix stock broke out of a cup base at a buy point of 697.49, according to IBD MarketSurge charts. The 5% buy zone from the breakout runs to 732.36, based on IBD trading guidelines.
Netflix Stock Is On Two IBD Lists
“We think Netflix is extending its global competitive advantage in video streaming vs. U.S. network providers that are finding it difficult to grow streaming profitably,” Leon said in a client note.
The “secret sauce” for Netflix is its “agile intelligent platform that can capture viewership and shape a personalized experience to watch similar programs,” he said.
Netflix also is leveraging its global content production efficiently, he said. “Often hot TV episodes come from outside the U.S. in markets like Brazil, South Korea, and Turkey,” Leon said.
Netflix stock is on two IBD lists: IBD 50 and Big Cap 20.
Follow Patrick Seitz on X, formerly Twitter, at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
YOU MAY ALSO LIKE:
Nvidia, IBD Stock Of The Day, Is Actionable As AI Chipmaker Preps Blackwell
Duolingo Adds AI Innovations To Language Learning App
Spotify Stock Rises As Streaming Music Rival Exits Business
