While there are no arguments on Netflix’s potential of sweeping a growing global market, there were speculations that the US market has reached its peak with the company’s growth slowing in the recent quarters.
Related: Netflix price target raised to $500 from $400
Bernstein had earlier predicted that Netflix would reach around 87 million subscribers by the end of 2030, but now feels the company may achieve this target much earlier. The survey result comes on the heels of GBH Insights raising the price target of the company to $500 from $400, buoyed by the fact that binge-watchers spend double the time on Netflix than its rivals. Bernstein, meanwhile, has a price target of $372 with an outperform rating.
Netflix recovers from Monday’s fall
On Monday, Netflix shares tumbled 6.5% along with numerous other tech stocks, in its worst stock performance in two years. The company recovered from some of the losses, gaining 4.2% in the early trading today.
Monday’s stock crash was spurred by trade war fears after President Donald Trump announced his plans to curb foreign investments in US tech firms. Semiconductor stocks bled badly, with Micron (MU) down 7% and AMD (AMD) and Nvidia (NVDA) down 4% each.