The results of the second quarter of Netflix are in place, as is the first verdicts of Wall Street. Several experts have also increased their stock market price objectives on streaming giant and increased financial forecasts after what was generally considered to be a large set of figures without major surprise.
Netflix has exceeded certain key objectives for the last period and also increased its financial prospects in 2025, but some investors had hoped for an even greater quarterly outperformance and stronger stream forecasts, leading to a moody stock market reaction. Once the shares have closed the negotiation session on Thursday 1.9% in the profits report, the company’s shares fell 2.5% to 8 a.m. on Friday before the opening of the market.
Given all of this, Wall Street’s attention is now going to the company’s performance in the rear half of the year.
A series of content begins throughout the year and the growth of the advertising level was therefore among the development problems for the experts of Wall Street, as they evaluated the results and comments of management, including the Sarandos du Co-chef.
“All eyes on the second half” was the title of the post-benefit report of Bernstein analyst Laurent Yoonin which he maintained his note “Buy” and $ 1,390 objective of the course of action. “Netflix has provided impressive growth of 16% on income on the other for the quarter, although it has slightly failed in high expectations -but probably justifiable -,” he wrote. “In itself, it could have made a difficult day for the stock. However, the company has increased its annual income and [earnings] Guidance, leaving investors with mixed views. The title made its gains intra-day in trading after the opening hours, and we are undoubtedly that we all return to the models to reassess the perspectives of the second half ’25, ’26, and beyond. “”
That said, “all eyes are on the second half, when Netflix generally leads to most of its member growth, powered by its content slate and marketing,” concluded Yoon. “Anticipation around the second half
Performance is likely to maintain stable investors – or ready to buy the decline, if you emerge. »»
William Blair analyst Ralph Scart Hold on its note of “outperformance”, without price objective, and focused on similar themes in its report entitled “Good neighborhood, but difficult to exceed high expectations”. Netflix shares increased by 42% for the start of the year, “and expectations were high [going] In the neighborhood, “he noted.” In other words, a “good” set of results and guide were not good enough for high expectations, in our opinion. The higher street income guide was partly due to a lower dollar. »»
That said, Schackart remains optimistic. “Netflix’s prospects remain positive in our opinion, with a solid slate, an enlarged advertising platform, solid retention, online price changes with expectations and stable commitment,” he concluded. “Overall, Netflix remains well positioned to remain a secular streaming winner.”
However, several peers in the street have raised the action objectives of the action on Netflix after the last set of results.
One of the biggest boosts comes from Moffettnathanson analyst Robert Fishman, who maintained his note “buy” on the company but pumped his goal of stock market courses of $ 100 higher to $ 1,400. The title of its Friday report: “Netflix: The King of Streaming (profits)”.
“Due to the force of the remaining content calendar of Netflix, as well as the continuous growth of its advertising level monetization stimulated by the transition to its internal Netflix Ads, we increase our growth in revenues from 2025 to 16% to 45.2 billion dollars,” he wrote. “The higher income should continue to propel itself faster [earnings] Growth, even with the depreciation of the content, should accelerate. »»
Fishman highlighted his optimistic position with a YouTube comparison. “In streaming wars, the two big winners – Netflix and YouTube – are not in competition for a single place. Instead, they play different games,” he explained. “YouTube, [which] We recently named the “new king of all the media”, is dominant in connected television commitment, prospering on the content generated by users. Meanwhile, Netflix leads to premium scripted and under -licensed scriptwriters, commanding higher margins and translating into even higher profits. »»
Evercore ISI analyst Mark Mahaney Friday, also reiterated its Netflix rating, an “outperformance”, while going from its stock market price of $ 1,350 $ 1,375Quoting “Beat and increasing the results of the second quarter income” in a report entitled “On a streaming jet”.
“The increase was expected, and the increase was delivered, thanks to the currencies, to a strong growth of subscribers and the advertising revenue ramp,” he wrote. “The fundamentals have been impressive, the growth of ex-extracted exchange revenues accelerating 17% from one year to the next and an operating margin reaching a record of 34%, largely thanks to the cost of the content.”
Mahaney also cited three key dishes to remember. First, it highlighted “stable or accelerated revenue growth trends in all regions, despite more difficult compositions, the acceleration of the United States / Canada at 15%.” Second, on margins trends, he argued that “the directives of the Netflix operating margin (30%) are probably conservative, but this also involves a lot of dry powder in the event of tenders on the new Marquis.”
Thirdly, Mahaney stressed that new commitment disclosure shows a growth of 1% in total hours of visualization in the first half of 2025, “with a commitment to greater growth in the second half, non -English -speaking content amounting to a third of all visualizations, and no title representing more than 1% of the total viewing hours.” Concluded the analyst: “These disclosure suggest coherent growth in engagement, a broad attraction of global content and extreme diversity of content offers.”
Guggenheim titles analyst Michael Morris has also raised its objective of action course, in its case of $ 50 $ 1,450While standing near his note “Buy”. In a report entitled “Position de force”, he said that “we expect the company to show greater commitment in the second period in the second period and will seek to extend the call more in 2026, starting with the live content available via the TF1 agreement previously announced in France, what we plan will be a model for additional offers.”
Morris then summarized his reasons for the reasons for the increase in this way: “Above all, we see the company pursuing growth opportunities from a position of force which is rooted in the leadership of the industry in the supply and distribution of content, which awaits us will be more strengthened with an expansion of the deeper local market.
BMO capital markets analyst Brian PC reiterated his note of “outperformance” and the objective of the course of the action of $ 1,425. “With an attractive global content of the world in the second half 2025 through live growth, under license and originals, the growth of members, as well as the advertising ramp, remain healthy,” he said.
The expert also discussed local content in international territories. “With content located in more than 50 countries and annual content expenses exceeding $ 18 billion, the TF1 partnership in France should give positive results,” concluded Pitz. “We believe that continuous investments in local content guarantee commitment, growth and limited unsubscription levels.”
TD Cowen analyst John Blackledge glued to his note “Buy” with his goal of stock market lessons extending from $ 1,440 to $ 1,450. “Management expects the growth of engagement in the second half in 2025 to exceed the growth of the first SEME Wednesday season 2 and the Foreign things Final, “he said.” Following an American solid, Netflix is on the right track to achieve their objective of doubling advertising revenues from one year to the next in 2000. “
CFRA research analyst Kenneth Leon kept its “strong purchase” note on Netflix shares with a $ 1,485 objective of the course of action. “Netflix extends its global competitive advantage in streaming with pricing power, while benefiting from the advertising changes in linear networks to streaming suppliers,” he wrote. “We believe that the company’s ad tech platform will allow Netflix to capture more advertising by sponsor on longer contracts, while its” local for local “content strategy continues to provide results worldwide.”
Concludes Leon: “Without pricing risks, attractive margins and new growth engines (including live programming), Netflix deserves a premium assessment.”
Pivot research group analyst Jeffrey Wlodarczak Remains the largest Bull Netflix in Wall Street, reiterating its street $ 1,600 Objective of the action course and a note “Buy”. “’25 is the biggest year in Netflix for the content and this content is strongly balanced in the second half, which includes Calmar game 3, Wednesday,, Foreign things And some great first -race films (like Happy Gilmore 2) “, He noted.
“Our positive view of Netflix Investment remains unchanged that Netflix remains underpayment on a global scale, offers an extremely convincing price for entertainment value (which is continuously improving) stimulated by their advertising advertising offer which should allow the company to continue to generate solid growth in subscribers and average income by the growth of users”, he concluded, qualifying the stream dominant bonuses of the world “.
Beyond Wall Street, experts also commented on the latest Netflix results. “There are few surprises because Netflix is now a well -oiled machine,” said PRP PROVERY analyst Paolo Pescatore. “Subscribers continue to register, and he produces successful shows that stimulate commitment. All this, associated with price increases, will increase higher income. ”
However, he stressed that “advertising is still a key strategic objective and which will take a little more time to crack”. That said, Pescatore stressed: “His solid slate of content places him in a much stronger position compared to competitors. The last engagement report reinforces that data is television gold for brands and advertisers.”
Scott PurdyResponsible for the American media industry, strategy, KPMG USPut the results of Netflix in broader trends in industry. “The remarkable content always stimulates a massive commitment, but the real winners not only capture attention, they use their brand and their scale to monetize it.”
And he addressed a possible AI AI, concluding: “AI can become the new competitive advantage to stimulate personalization, commitment and efficiency, while the models supported by advertising strike their stride with viewers and advertisers while the number of subscribers enters the rear view.”
