Netflix (NFLX) stock reached new highs every day last week, marking its best weekly performance since January and sparking analyst predictions that the streaming giant’s shares could soon exceed $1,000.
Jeff Wlodarczak of Pivotal Research set a Street-high price target of $1,100, implying a 20% upside from current levels around $900. Analysts at Bank of America and Jefferies followed suit, each raising their targets to $1,000. Despite concerns over slowing growth, Netflix’s recent ventures into live events are fueling optimism.
The catalyst? Netflix’s record-breaking live boxing event featuring Jake Paul and Mike Tyson, which drew 108 million global viewers, becoming the most-streamed sporting event ever. Analysts believe the success of such events could help Netflix reduce subscriber churn and justify higher prices.
“The NFLX service remains a highly compelling, relatively inexpensive entertainment alternative,” Wlodarczak noted, emphasizing the company’s growth potential in live programming.
Netflix has also seen a surge in its ad-supported tier, now boasting 70 million monthly active users globally—up from 40 million just six months ago. This momentum aligns with Netflix’s broader push to diversify revenue streams.
Next on the live-event slate is an NFL Christmas Day doubleheader, featuring Beyoncé’s halftime performance, expected to attract an even broader audience.
With its stock up 85% year-to-date, Netflix continues to outpace competitors like Disney and Comcast, solidifying its position as a leader in streaming innovation.