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
Our community is currently high on Netflix Inc. with 81 Buy predictions and 8 Sell predictions.
With a target price of 609 € there is a slightly positive potential of 4.71% for Netflix Inc. compared to the current price of 581.6 €.