Netflix Stock Hits All-Time High With Bump From Tyson-Paul Fight, Beyoncé | Global News Avenue

Netflix (NFLX) Wall Street analysts raised their price targets on the streaming giant’s stock on Tuesday, sending shares soaring to a record high, citing optimism about its potential to benefit from live events. last week’s boxing match Between Mike Tyson and Jake Paul.

Netflix said on Tuesday that the event attracted 65 million concurrent streams globally and an “average minute audience” of 108 million people.

The company said it was the most-watched show on its platform in 78 countries last week, after a match between Katie Taylor and Amanda Serrano averaged The global audience was 74 million.

Analysts say Tyson-Paul fight proves Netflix’s sports-driven growth potential

Sports a key element of Netflix’s plan Expand user baseWedbush analysts said the Tyson-Paul fight proved Netflix’s ability to “drive massive live event viewership.” They raised their price target to $950 from $800, representing a 9% upside from Tuesday’s closing price.

Analysts at Wedbush and Jefferies recommend Netflix first NFL gameSet to go live on Christmas Day, it’s likely to increase the streamer’s subscriber base. Analysts cited Netflix’s recent statement saying beyonce It will be performed during halftime of the second game of the day between the Houston Texans and Baltimore Ravens, another factor that could attract new subscribers.

Jefferies analysts raised their price target to $1,000 from $800, adding that they expect streaming quality issues with the Tyson-Paul fight may be “resolved” when Netflix attracts an NFL-sized audience, suggesting Netflix underestimated the Tyson-Paul fight’s popularity struggle.

Netflix shares rose nearly 3% on Tuesday to close at a record $871.32. With Tuesday’s gains, they have gained nearly 80% since the beginning of the year.