Netflix Inc NFLX shares are trading lower on Monday. The stock initially traded higher on positive analyst coverage before pulling back and going negative for the session.
Oppenheimer analyst Jason Helfstein assumed coverage of Netflix with an Outperform rating on Monday and announced a $325 price target after a consumer survey combined with a deeper dive into Netflix’s advertising opportunity showed that the company’s upcoming ad-tier launch should help to drive future growth.
The consumer survey showed that 43% of churned U.S. subscribers would re-subscribe at lower prices. Helfstein also highlighted Netflix’s highest viewership in the industry. The Oppenheimer analyst expects Netflix’s global advertising revenue to reach $4.6 billion by 2025.
NFLX Price Action: Netflix has a 52-week high of $609.99 and a 52-week low of $162.71.
The stock was down 1.69% at $236.12 at the time of publication, according to Benzinga Pro.
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