Netflix (NFLX) has really made a name for itself in the streaming world, proving the doubters wrong and becoming a must-watch stock in September 2024. While Netflix isn't officially one of the "Magnificent Seven" tech giants, the mega-cap tech giant is a leader in its own right. And with its stock price up an impressive 39.6% this year, NFLX is outperforming all but two members of the official Mag 7 lineup - namely, Nvidia (NVDA) and Meta Platforms (META) - following a volatile summer for tech stocks.
Analysts see more upside in store, too. Recently, Pivotal Research reiterated its Buy rating and raised its price target from $800 to $900, citing Netflix's ability to leverage its scale and continue growing its subscriber base. Similarly, Evercore raised its price target to $750, emphasizing Netflix's strong market position and potential for future growth.
