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Netflix Price Target Raised at Oppenheimer on Paid Sharing Launch in U.S.
May 24, 2023 4:56 PM - Davit Kirakosyan(Last modified: Dec 19, 2023 5:49 PM)
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Oppenheimer analysts raised their price target on Netflix, Inc. (NASDAQ:NFLX) to $450 from $415 while reiterating their Outperform, given the introduction of Netflix's Paid Sharing feature at $7.99 per additional household stream.
Before this announcement, the analysts conducted a survey among 1,800 Netflix consumers in the United States, revealing a strong willingness to pay for usage by "remote" users. Interestingly, some former users expressed a willingness to pay for their own subscription. Around 80% of the respondents currently pay for Netflix, with 48% supporting users outside their household for free. This indicates the potential for approximately 36 million new subscribers.
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