A Netflix Bull Trimmed His Price Target—But the Stock Is Rising Ahead of Earnings | Global News Avenue

One of Wall Street’s Biggest Netflixs (NFLXBulls’ optimism has waned somewhat ahead of the streaming giant’s earnings report next week, but not by much. That didn’t stop the stock from rising today.

Oppenheimer analysts led by Jason Helfstein slightly lowered their $1,065 price target on Netflix to $1,040 on Wednesday while maintaining an “outperform” rating on the stock. The new target is about 25% above Tuesday’s closing price and 15% above the Visible Alpha average of nearly $905, tying it with another analyst for the highest target tracked by the service.

Netflix shares climbed today, with shares rising more than 2% recently Market rises. Investors are likely looking forward to the company’s next round of quarterly financial results, due after the close on Tuesday, which will mark one of the key moments at the start of the tech industry’s earnings season.

The company told investors in October that it expected fourth-quarter revenue to grow 15% (meaning the figure would exceed $10 billion) and that net paid subscriber additions would increase sequentially. The first number compares to Visible Alpha’s average revenue estimate of $10.1 billion. (You can read our coverage of Netflix Third quarter results are here.)

For its part, Oppenheimer’s caution is largely based on its 2025 revenue outlook, as Strong dollar. Meanwhile, the stock is up about 70% in the past 12 months, although it’s still in the red so far this year.