Seaport Global Securities upgraded Netflix Inc. (NASDAQ: NFLX) from Neutral to Buy, assigning a new price target of $1,385.00. Shares rose more than 2% intra-day on Tuesday following the upgrade.
The firm said it viewed Netflix’s recent moderation in share momentum as a consolidation phase after a 30% year-to-date rally and expected renewed upside as advertising-related monetization gains accelerate.
Analysts highlighted continued market share gains against traditional linear television—though noting that YouTube TV remained a key competitor—and credited Netflix’s professionally curated content for maintaining strong engagement levels.
Seaport Global said it had incorporated higher operating leverage and ad revenue projections into its forecasts, reflecting expanding market share. The firm recommended investors accumulate shares ahead of Netflix’s third-quarter earnings report on October 21.
