Netflix (NFLX) provided “encouraging” 2025 revenue guidance and reported “strong” net subscriber additions in the third quarter, Wedbush Securities said in a note Friday.
“The primary driver of this surge will be a more robust content slate than we have seen in 2024,” Wedbush said in a Friday note following Netflix’s Q3 results released Thursday.
The firm said the company’s gain of 5.1 million net paid subscribers in the quarter exceeded the consensus of 4 million.
Wedbush said Netflix’s results for the quarter were “solid,” with revenue topping consensus, guidance and the firm’s estimate.
Wedbush boosted its price target on Netflix to $800 from $775 and maintained its outperform rating.
Netflix shares advanced more than 10% in recent Friday trading.