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Netflix’s Price Target Increased to a Street High of $765 at Pivotal

Pivotal Research Group increased its Netflix (NASDAQ:NFLX) price target to a Street high of $765 from the previous $700, while keeping a Buy rating. The adjustment reflects an optimistic view toward Netflix’s subscriber growth and Average Revenue Per User (ARPU) projections beyond 2024.
Pivotal now forecasts a net gain of 19.5 million paying subscribers for 2024, an increase from the earlier prediction of 18.2 million, and anticipates reaching 356 million subscribers by the end of 2030, up from 347 million. ARPU adjustments for 2024 and beyond were modest, with a new expectation of an average ARPU of $14.37 per paying subscriber by 2030, raised from $14.15, attributed mainly to developments in mature markets.
The analysts attribute these enhanced forecasts to Netflix’s ongoing strong performance and its competitive value proposition.

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