Netflix Gets Another $1000 Price Target On 'Knockout’ Live-Streaming Opportunity, But Retail Curbs Enthusiasm

Shares of Netflix, Inc. ($NFLX) rose over 1% on Thursday, headed for a fourth consecutive session of gains. 

BofA Securities joined the bullish camp by raising its price target on the stock to $1,000 from $800, maintaining its ‘Buy’ rating. This came a day after Pivotal Research set a Street-high target of $1,100.

BofA’s optimism stems from Netflix’s live broadcast of the Mike Tyson-Jake Paul boxing bout, which the brokerage described as “emphatic proof” of Netflix’s ability to attract a global audience for live events. 

With 108 million live viewers worldwide, according to the brokerage, the bout became “the most-streamed sporting event of all time,” despite reports of technical issues.

The success underscores Netflix’s potential in live programming and advertising, according to BofA, which added that live broadcasts not only enhance ad inventory but also position advertising as a multi-year growth driver. 

The streaming giant is poised to build on this momentum with two National Football League games on Christmas and the start of a 10-year partnership with World Wrestling Entertainment’s Raw in 2025.

“Live can be a knockout opportunity for Netflix,” BofA stated, noting that the company is cautiously exploring live content while managing costs.

Despite the bullish outlook from Wall Street, retail investors on Stocktwits were more reserved. 

NFLX sentiment and message volume on Nov 21 as of 1:45 pm ET | source: Stocktwits

Sentiment stayed ‘neutral’ among Netflix’s 485,000 followers, even as message volume doubled over the past week.

Some users expressed skepticism, citing Netflix’s relative strength index (RSI) exceeding 81. 

Others questioned the sustainability of the rally.

However, bullish users speculated on the stock’s potential to hit $1,100 or undergo a stock split to attract more retail interest.

Year-to-date, Netflix stock has gained over 90%, benefiting from a series of catalysts, including the growing adoption of its ad-supported tier and its strategic move into live-streaming.