Why Netflix is a top tech pick, according to one analyst
Netflix (NFLX) stock is becoming increasingly attractive as it innovates its product offerings, according to one Wall Street Analyst. Mark Mahaney, Evercore ISI’s Senior Managing Director & Head of Internet Research points to Netflix’s ad-tier rollout and its subsequent lower priced options as key catalysts for the stock over the next twelve months.
Mahaney, who has an outperform rating and $400 price target on the stock for the next year lists Netflix as a top pick in the tech sector. Netflix’s password crackdown weighed on shares over the last several months but have since rebounded as investors shift their focus to the the increased revenue Netflix could gain from more users paying their own way to use the platform, Mahaney argues.
The analyst’s price target reflects nearly 30% upside from where Netflix shares closed on Friday and comes along other top picks in the tech sector such as Meta (META) and Uber (UBER).
Yahoo Finance’s Seana Smith and Dave Briggs sit down with Mahaney to discuss his bull case for Netflix.
0:00:05 - Top tech picks
0:00:31- The potential positives for Netflix stock