Netflix Stock Powers Past $700 Again, Retail Sentiment Hits 1-Year High

Shares of Netflix Inc. (NFLX) rose over 2% on Tuesday, reaching the $700 mark for the second time this year, lifting retail sentiment amid a bullish analyst outlook.

On Stocktwits, sentiment for NFLX surged to an ‘extremely bullish’ score (93/100), the highest in a year, accompanied by a spike in message volume.

Evercore ISI analyst Mark Mahaney on Tuesday raised Netflix’s price target to $750 from $710, maintaining an ‘Outperform’ rating. On Friday, the stock hit an all-time intraday high of nearly $711.

He cited recent survey data and channel checks, suggesting mid single-digit percentage upside to Wall Street’s FY25 EPS expectations, with further upside potential if Netflix resumes its historical price increase cadence.

Netflix's stock has gained over 50% this year, driven by a robust advertising strategy and high-profile partnerships with brands like LVMH and Google.

The company recently reported a 150% increase in upfront ad sales commitments compared to 2023.

Netflix’s plan to add live sports, including NFL games and WWE broadcasts this year has also attracted a broader audience and boosted its appeal to advertisers targeting live sports viewers.

That helped the company add 8.05 million customers in the second quarter.

As it pushes into ad-supported content, Netflix is also raising subscription prices, including a planned increase for its Standard plan this December.

A bullish retail investor on Stocktwits is now speculating that Netflix could breach the $1,000 mark, while another predicted a potential stock split.

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