Should You Buy Netflix Stock Right Now?
As a clear winner in the stay-at-home trends prompted by coronavirus-related lockdowns, it's not surprising that Netflix (NASDAQ: NFLX) stock has been an outperformer in 2020. The stock is up 34% year to date, crushing the S&P 500's 1% decline over this same timeframe.
So far, the streaming-TV company has delivered on investors' hopes that sheltering at home would boost viewership and subscriptions. Net new subscriber additions in the company's first quarter came in at 15.8 million, obliterating management's guidance for 7 million new members during the period. But some have wondered how much of this momentum could carry into Netflix's second quarter as the economy reopens.
One analyst thinks Netflix's momentum has continued -- and he's reiterating a bullish $535 12-month price target on the growth stock to reflect his optimism for the company.
Source Fool.com
