Survey: Netflix Sees Record High Penetration

Netflix (NASDAQ: NFLX) is "clearly a COVID structural winner" according to Mark Mahaney of RBC Capital Markets, who reaffirmed his outperform (buy) rating and $500 price target on the stock.

The analyst reported the results of a recent survey of more than 1,500 U.S. residents, which found the streaming giant had achieved a record-high penetration, with 68% of respondents watching Netflix, up from 65% in each of the previous four quarters. The company widened its lead against Amazon.com's (NASDAQ: AMZN) Prime Video at 60%, Disney's (NYSE: DIS) Hulu at 50%, and Disney+ at 42%.

The survey found that customer satisfaction has returned to levels not seen since Netflix raised prices early last year. 68% of respondents reported being "extremely satisfied" or "very satisfied", up 4% compared to last quarter.

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Source Fool.com