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Netflix, Inc. (NASDAQ:NFLX), one of the world’s leading entertainment services with 278 million paid memberships in over 190 countries, saw its share price gain around 23% YTD, with Wall Street analysts expecting further upside.
If You Bought Netflix Stock 20 Years Ago
The company’s stock traded around $2.50 per share 20 years ago. If you had invested $1,000, you could have bought 400 shares of Netflix stock. Currently, shares are trading at $599.39, which means your investment’s value could have soared to $239,756 due to stock price appreciation. The company does not pay dividends.
This is how much you could have made if you had invested $1,000 in Netflix stock 20 years ago, reflecting a total return of 23,875.6%. In comparison, the S&P 500 total return for the same period is 560.09%.
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What Could The Next 20 Years Bring?
Netflix has a consensus rating of Buy and a price target of $686.45 based on the ratings of 33 analysts. The price target implies a nearly 15% potential upside from the current stock price.
According to our Benzinga Pro report, last week, following Netflix’s quarterly results announcement, several Wall Street analysts, including Citigroup, Goldman Sachs, and UBS, raised their price targets on Netflix.
Analysts praised Netflix’s Q2 earnings results and paid subscriber adds, as covered in this piece by Benzinga. However, questions remain about future subscriber growth and the impact of ad-supported plans.
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On July 18, Netflix announced its Q2 2024 earnings results. Revenues were $9.56 billion, up 16.8% year-over-year and better than the consensus estimate of $9.53 billion. Quarterly EPS was $4.88, beating the expected $4.74.
According to the company’s letter to shareholders, it expects revenue growth of 14% year-over-year in Q3 2024. For 2024, Netflix expects revenue growth of 14% to 15%, up from 13% to 15%.
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In summary, growth-focused investors may find Netflix stock attractive given the historical stock price appreciation and expected upside potential.
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This article If You Invested $1000 In Netflix Stock 20 Years Ago, How Much Would You Have Now? originally appeared on Benzinga.com
