Netflix (NFLX) PT Raised to $1,495 at UBS

UBS analyst John Hodulik raised the price target on Netflix (NASDAQ: NFLX) to $1,495.00 (from $1,450.00) while maintaining a Buy rating.

The analyst commented, "We see Netflix as a secular winner and think 2Q results support our conviction. Revenues grew 17% y/y FXN (in-line) vs. +16% in 1Q while OI grew 45% (street/UBSe ~40%). Mgmt suggested revenue growth was driven by member growth (performance late in qtr exceeded expectations), higher pricing and increased ad revenues. With marquee shows providing a tailwind (Squid Game June 27th; Wednesday Aug 6th), guidance looks for 17% FXN revenue growth in 3Q and 25% OI growth (ahead of prior UBSe 15%/16%). For the full year, management now expects 16-17% FXN revenue growth (14-17% prior) while margins expected to expand ~300 bps yoy to 30% (29% prior; half of increase FX with balance members/ad driven). The updated guidance implies FXN revenue growth will be ~16% in 4Q, providing a strong launch point for '26 (UBSe 13%+ revenue growth in '26)."

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