Wall Street Can’t Stop Drooling Over Netflix’s $1,100 Price Target Ahead of NFL Christmas Games

I remember back in the olden days when Netflix was just that place where you'd binge-watch "The Office" for the 47th time. Well, hold onto your remote controls, because the streaming giant that will forever leave the Blockbuster CEO up at night just took a bite out of Wall Street's expectations faster than Mike Tyson when he took a bite out of Evandor Holyfield’s ear.

Netflix stock just hit another all-time high, and analysts are excited to say the least.

108 MILLION people tuned in to watch a 57-year-old former champ fight a YouTuber-turned-boxer. For context, that's almost as many viewers as the Super Bowl (124M), except this time people actually wanted to watch the commercials.

Speaking of those ads... Netflix's ad tier is lighting it up. They've racked up 70M monthly active users, up from 40M in May. That's the kind of growth that makes other streamer platforms feel like they're still using dial-up internet.

Pivotal Research's Jeff Wlodarczak (definitely nailed that spelling on the first try) just slapped a $1,100 price target on Netflix. That's about 20% higher than current levels. 

Netflix is also gonna get another huge boost with NFL Christmas Day games featuring the Chiefs vs. Steelers and Ravens vs. Texans. And because Netflix doesn't do anything half-assed anymore, they got Beyonce for the halftime show..

"But what about the technical issues during the Tyson fight?" I hear you asking. (Okay, I don't actually hear you, but work with me here.) Wall Street’s reaction was basically the business equivalent of a shrug and a “move along, nothing to see here.” Wlodarczak called it a “learning experience,” which is just a polite way of saying, “Hey, even the best burn their first pancake.”

The numbers don't lie: Netflix shares are up 85% this year. Disney+ and Peacock are in the corner crying harder than my wife watching "The Notebook."

Some party poopers (looking at you, Moffett Nathanson) are worried about "valuation" and "revenue deceleration." But when you're paying $75M per NFL game and getting Beyoncé to perform, you're playing chess while everyone else is playing Candy Crush.

Netflix has once again cemented itself as the top dog of the streaming wars. And with live events pulling Super Bowl-level numbers, those $1,000+ price targets might end up looking pretty conservative.

Now if you'll excuse me, I need to go cancel my cable subscription. Who needs traditional TV when you can watch senior citizen boxing matches and Queen Bey on the same platform that brought us Tiger King?

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Stock.News has positions in Netflix, Disney, Peacock, and Youtube mentioned in article.