NFLX Stock Price Surges; Company Shares its Ad-based Plan

Netflix Inc (NASDAQ: NFLX) stock price rose nearly 9% in yesterday’s trading session and closed at $371.29. The stock opened at the price of $347.25, gave high at $375.87 while low was at $346.37. Notably, the 52-week high of this stock was at $379.43 while the 52-week low was at $164.28. This price analysis shows that the stock closed quite near to its 52-week high while the continuous bullish trend would further push its stock price.

NFLX Stock Price Analysis

NFLX stock price was bullish as it showed its positive strength in its all-time price analysis. Its stock price rose over 9% in yesterday’s trading session, while in recent 1-week it increased nearly 11%. Additionally, year-to-date (YTD) price shows that Netflix increased almost 25%. The bullish trend in the stock price shows investor’s confidence, while recent add-ons in the company’s plan also helped the stock to rise more.

NFLX Stock
Source: NFLX/USD by Tradingview

As shown in the above price chart, Netflix stock price once again started following the bullish trend which it followed earlier in February. The stock price gave its 52-week high earlier in February, while on January 19th 2023 Netflix reported its Q4 2022 earnings and revenue. The stock price surpassed its 200-day EMA and took an upside-ride. The bullish move further raised its RSI which rests in the overbought zone.

NFLX stock is witnessing the high dominance of active bulls in the market who pulled-up its stock price. Meanwhile, the trading volume noted by the stock was around 20.92 Million, which is quite high. The pre-market price of the stock is showing little drop, as it is at $370.00.

The analysts have set their price target at $365.37 which at present down 1.59% to its closing price. Moreover, they are offering one year price forecasts for NFLX stock that have a maximum estimate of $440.00 while minimum estimate is at $215.00.

NFLX Stock
Source: Price Target of NFLX Stock by Tradingview

Netflix’s Ad-based Plan

Netflix Inc., during the virtual upfronts presentation this Wednesday, revealed its ad-based plan “Basic with Ads.” According to a Yahoo Finance report, the American media company has 5 Million global monthly active users (MAUs). This is a metric that “actually matters[s] to advertisers,” as the company’s Worldwide Advertising President Jeremi Gorman said.

However, the company has “not yet revealed its actual subscriber figure for the ad tier along with the revenue it generated so far,” according to the report.

Disclaimer

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Nancy J. Allen
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Source: https://www.thecoinrepublic.com/2023/05/19/nflx-stock-price-surges-company-shares-its-ad-based-plan/