Netflix stock price outlook: Wedbush Securities sees a 50% upside


Netflix stock price outlook: Wedbush Securities sees a 50% upside

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Wajeeh Khan

May 16, 2022

Wedbush analyst dubs Netflix an immensely profitable, slow growth company.

Virtus Investment Partners’ Joe Terranova also sees long-term opportunity in NFLX.

Netflix Inc stock is now down close to 70% versus the start of the year 2022.

Netflix Inc (NASDAQ: NFLX) has been a nightmare for shareholders this year, but a Wedbush Securities analyst is convinced the stock down 70% year-to-date is now ripe for a significant recovery.  

Netflix Inc could be a $280 stock

On Monday, Michael Pachter dubbed Netflix an “immensely profitable, slow growth company” as he lifted his rating on the stock to “outperform”. The analyst sees upside to $280 in NFLX, which represents a 50% upside from here.

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Netflix is positioned to exceed its guidance for Q2, particularly because of the staggered release date for Ozark. It’s possible that NFLX will again issue downbeat guidance for Q3, the staggered release date for Stranger Things will reduce churn.

The streaming giant will likely return to subscriber growth and boost its revenue as it launches a cheaper, ad-supported tier later this year and cracks down on password sharing, he added.

Joe Terranova also sees opportunity in NFLX

The Wedbush Securities analyst is convinced Netflix can hit his price target over the next twelve months. Commenting on the bullish call on CNBC’s “Halftime Report”, Virtus Investment Partners’ Joe Terranova said:

I always think of Netflix as relative to Disney and I do that because of the importance of streaming. So, now on the valuation basis, if I’m measuring Disney with Netflix, I still think Netflix provides a better opportunity in the long term.

Last week, industry mogul Tom Rogers also said that NFLX was a hugely undervalued stock. Netflix now trades at a PE multiple of 17.

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