Netflix stock climbed to an all-time high on Monday after the internet television network touted its upcoming content lineup at a star-studded weekend event.
On Saturday, the streaming video leader held Netflix Tudum 2025 at the Kia Forum in Inglewood, Calif. The event, hosted by actress Sofia Carson, was streamed live on Netflix worldwide.
At Tudum, Netflix previewed new seasons of "Wednesday," "Squid Game," "Stranger Things" and "One Piece." It also promoted new movies "Frankenstein," "Happy Gilmore 2," "The Rip" and "Wake Up Dead Man: A Knives Out Mystery."
Celebrities attending the event included Ben Affleck, Matt Damon, Lady Gaga, Jenna Ortega, Daniel Craig, Jeremy Renner and Kerry Washington, among others.
On the stock market today, Netflix stock rose 1% to close at 1,218.98. Earlier in the session, it notched a record high of 1,219.40.
Netflix stock is trading in the 20%-25% profit-taking zone of its recent breakout, based on IBD trading principles.
Further, Netflix stock is on two IBD lists: IBD 50 and Leaderboard.
Late last week, four Wall Street firms raised their price targets on Netflix stock. BofA Securities was the most bullish of the bunch. It upped its price target to 1,490 from 1,175 and kept its buy rating.
"We continue to view Netflix as well positioned given the company's unmatched scale in streaming, further runway for subscriber growth, significant opportunities in advertising and sports/live (programming) and continued earnings and free-cash-flow growth," BofA analyst Jessica Reif Ehrlich said in a client note Friday.
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