Netflix, Inc. (NASDAQ:NFLX) is one of the Best Fundamentally Strong Stocks to Buy Now.
On May 13, Citi analyst Jason Bazinet maintained a “Buy” rating on the company’s stock, setting a price objective of $115.00
The analyst’s rating is backed by factors related to the company’s growth in ad-supported business and user engagement. Furthermore, the analyst pointed towards healthy weekly usage among ad-tier customers and the company’s plan to roll out the ad-supported service to additional countries. Notably, this significantly expands the addressable audience despite expected reductions in monetization in some regions.
Additionally, Bazinet noted Netflix, Inc. (NASDAQ:NFLX)’s innovation in advertising formats as well as AI tools for creators and advertisers. This can help expand ad inventory and improve the campaign effectiveness, added the analyst. In a different release, JPMorgan reiterated an “Overweight” rating on the company’s stock with a price objective of $118.