TTD - Netflix's Advertising Strategy Promises Big with 40M Ad-Supported Viewers and Unique Ad Integration Plans Analysts Says After Event | Benzinga
Oppenheimer analyst Jason Helfstein reiterated an Outperform rating on Netflix Inc. (NASDAQ:NFLX) and a price target of $725.
On Wednesday, Netflix hosted its first live Upfront event, showcasing a very robust content slate, access to 40 million ad-supported viewers, and forthcoming integrations with The Trade Desk, Inc (NASDAQ:TTD), Alphabet Inc (NASDAQ:GOOGL) DV360 and Magnite, Inc (NASDAQ:MGNI) and also, launching an in-house ad-buying platform by the end of 2025.
Helfstein expected Netflix’s rapidly expanding user base, which is more engaged vs. competitors, paired with advanced advertising targeting and measurement capabilities, to make it a must-have for advertisers in the coming years.
Also Read: Netflix To Stream 2 NFL Christmas Day Games: Analyst Sees Strong Growth Potential
The analyst said that while the event showed the potential for a large ad business, investors need to be patient with the ad revenue ramp. Helfstein projected second-quarter revenue and EPS of $9.5 billion and $4.70.
Benchmark analyst Matthew Harrigan maintained Netflix with a Sell and raised the price target from $440 to $450.
As conveyed in its Upfront presentation, Harrigan said that Netflix management continues to execute well in advertising and injecting compelling new content, including NFL Christmas Day games and WWE Raw next year.
Despite some early ...