Netflix's Ad Business Is a Huge Hit: Time to Buy the Stock?
Every year, publishers and advertisers from all over the world come to a major advertising event referred to in the industry as the upfronts. Cable networks and ad-supported streaming services use the event to make their cases to strike deals with major advertising agencies and ultimately bring more ad revenue to their platform. (NASDAQ: NFLX) has always been absent from the industry event -- until this year. With its ad-supported tier still less than a year old, the company is making its debut at the event -- and it's a big one.
Netflix unveiled promising data about the successful start the company has seen in its advertising business, CNBC reported on Thursday. Shares surged on the news, rising more than 9% by the time the market closed.
Here's a look at what Netflix said about its ad business and what it means for investors.
Source Fool.com
Netflix Inc. Stock
Currently there is a rather positive sentiment for Netflix Inc. with 82 Buy predictions and 9 Sell predictions.
However, we have a potential of -0.98% for Netflix Inc. as the target price of 598 € is below the current price of 603.9 €.
