From Nasdaq: 2024-05-11 17:48:10

1. The FAANG stocks have outperformed the S&P 500 Index in 2024. Netflix, a streaming giant, has seen impressive growth with 13.1 million new subscribers in 2023 and adding 9.3 million in Q1 2024. Revenue is up, with a forecasted growth of 13-15% in 2024.

2. Netflix’s profitability is evident from a significant increase in earnings per share, reaching $5.28 in Q1. The company’s operating margin and forecasted earnings show promising growth potential in 2024 and 2025. Management aims to expand its original content offerings to capitalize on global market opportunities.

3. Wall Street analysts view Netflix positively, with a “buy” rating and target price of $640 per share. The company’s strong financial performance and strategic growth initiatives, including operating margin expansion and efficient content spending, contribute to bullish sentiments. Analysts expect solid earnings growth and a potential stock upside of 6-31%.



Read more at Nasdaq: 3 Reasons This Mega-Cap Stock Will Continue to Soar in 2024 and Beyond