Netflix Inc (NFLX)

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Analyst Sees 20% Upside for Netflix (NFLX) Stock
By: Schaeffer's Investment Research | July 12, 2023

• UBS increased price target on Netflix to $525

• Netflix reports earning after the close on Wednesday, July 19

UBS increased price target on Netflix Inc (NASDAQ:NFLX) to $525 from $390 -- a nearly 20% upside to last night's close -- ahead of the streaming giant's second-quarter earnings report. Netflix is slated to step into the earnings confessional after the close on Wednesday, July 19.

Unsurprisingly, analysts were bullish on the tech behemoth coming into today. Of the 32 analysts in covering, 18 recommend a "strong buy." Meanwhile, the 12-month consensus price target of $406.94 is an 8.2% discount to Tuesday's close.

Bullish bets have been popular over the last 10 weeks. In fact, at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), Netflix stock's 50-day call/put volume ratio of 1.66 stands higher than all other readings from the past year. Echoing this, the equity's Schaeffer's put/call open interest ratio (SOIR) stands higher than just 11% of readings from the past year.

Boasting a 1.3% premarket lead, NFLX is hovering near its 2022 highs above the $440 level. Over the last 12 months, Netflix stock has tacked on nearly 150%, with 50% added so far in 2023.

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