Will Netflix Stock Hit $700 in 2022?

One of the biggest winners of the coronavirus pandemic was Netflix (NASDAQ: NFLX). This top media business saw its stock price soar 67% in 2020, supported by a growing user base. With people stuck at home, the company experienced pulled-forward demand last year.

During the first nine months of 2021, however, Netflix added just 10 million subscribers, and the stock has significantly trailed the S&P 500 this year. The streaming industry is becoming increasingly crowded with new rivals coming to market, and with economies slowly opening back up, consumers want to enjoy other leisure activities.

What does next year hold? Can Netflix's stock price reach $700 at some point in 2022? Let's find out.

Source Fool.com