After taking a battering in the stock market at the end of 2018, Netflix stock (NASDAQ: NFLX) is back on the investor watchlist. The stock increased dramatically on Monday, with almost 6% growth over the previous trading session. Helped by overall market confidence as well as impressive performance at the Golden Globe awards, Netflix is now one of the hottest stocks to watch in 2019.
Awards, High Subscriber Count, and Massive Public Engagement
Just as much as the charts and day to day numbers are important, the industry performance of a company should be closely monitored when picking your stocks for 2019.
Netflix is currently a hot topic on Wall Street and in Hollywood. The company now boasts 137 million subscriber accounts worldwide, and engagement is at a record high. Recently released Netflix movie “Bird Box” is trending on social media and has been viewed by 45.3 million users. This is a record-setting release for the media and streaming company.
Stock gains on Monday were also influenced by the performance of Netflix at the Golden Globe awards. The company spent $13 billion on original films and series’ during 2018, and the investment is now paying off. In addition to high subscriber numbers, the wider entertainment industry is also starting to put its support behind the streaming network.
Netflix originals won in the categories for Best Director, Best Motion Picture, and Best Television Series for a Musical or Comedy. Michael Douglas, a Hollywood veteran, won a Best Performance award for his role in “Kominsky Method”.
The buzz surrounding the company is likely to increase subscriber numbers in 2018. Wall Street analysts expect the company to outperform its own growth records.
Netflix stock is fast becoming one of the most valuables in the Media/Entertainment sector, and there is still room for growth.
Analysts Give a Buy Rating for Netflix Stock in January
23 of 40 top analysts on FactSet award Netflix a BUY rating. The average target price of $392.94 shows optimism for significant growth beyond today’s trading price.
Despite the volatility in the fourth quarter of 2018, Netflix stock price has increased 50.66% over the last 12 months. Stock price has increased 17.81% year-to-date in 2019.
Netflix is proving itself to be a reliable stock, and it represents a good opportunity for investors who want to get in while the company is relatively young with plenty of potential.
You may be interested
Job Hiring is Picking Up as Employers and Consumers Gain ConfidenceLamont J - March 29, 2021
The recent government stimulus for small and medium-sized businesses, personal stimulus checks, and declining Coronavirus cases, are all great news…
Fed Could Maintain 0% Interest Rate Until 2024Adam R - March 26, 2021
The Federal Reserve is holding its target interest rate in a range of 0.00% - 0.25%, even while the economy…