Citi Comments on Netflix (NFLX) Ad-Tier Update

Citi analyst Jason Bazinet reiterated a Neutral rating and $660.00 price target on Netflix (NASDAQ: NFLX).

The analyst comments "At the company's upfront preview, Netflix announced that its ad-tier has reached ~40 million MAUs, up from the 23 MAUs in December 2023. This implies the firm is adding ~4.3 million MAUs per month, which is relatively in line with the firm's pace back in December. We estimate the firm is pacing toward ~17 million ad-tier subs per year. Netflix also noted ~40% of new signups are joining the ad-tier. The company also announced it plans to bring its ad-tech offering in-house. While Microsoft will remain a partner, the company noted it plans to expand its partnership to include The Trade Desk, Google, and Magnite."

For an analyst ratings summary and ratings history on Netflix click here. For more ratings news on Netflix click here.

Shares of Netflix closed at $613.66 yesterday.

You May Also Be Interested In

• Nomura/Instinet Upgrades SK Innovation Co Ltd (096770:KS) to Neutral
• Citizens Upgrades EPR Properties (EPR) to Market Outperform
• USA Compression Partners LP (USAC) PT Raised to $29 at Mizuho