Oscar Gold Rush Proves Little Help to Netflix Stock (NASDAQ:NFLX)

Streaming giant Netflix NFLX -0.12% ▼ actually managed to make a big splash at the Oscars just last night. The streamer landed five statuettes for two films. But this proved to have little impact for shareholders, who smiled, nodded, and gave Netflix stock a fractional boost in the closing minutes of Monday’s trading.

Claim 70% Off TipRanks Premium

• Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions

• Stay ahead of the market with the latest news and analysis and maximize your portfolio’s potential

Netflix’s remake of Frankenstein managed to take home three awards, one for Best Makeup and Hairstyling, one for Best Costume Design, and one for Best Production Design. This should represent a major win for the studio, but since Frankenstein was up for nine Oscars, the fact that it only managed to walk away with one in three proved a bit of a letdown.

Meanwhile, Netflix’s animated hit, and its most-watched movie ever, KPop Demon Hunters, managed to take not only Best Original Song but also Best Animated Feature. Netflix has done well at the Oscars before, but still is struggling to land Best Picture. Further, the night could not go by without a jab at co-CEO Ted Sarandos. Oscar host Conan O’Brien noted, pointing out Sarandos and saying, “This is exciting; it’s his first time in a theater!”

Make the Mall Relevant Again

Shopping malls have taken it on the chin in recent years, but they may be in line for a shot of relevance thanks to social media presence Haley Baylee. Baylee will be hosting a Netflix show called Win The Mall, which calls on players to “…outshop, outsmart, and outlast one another…” Though the specifics of what that means are less than clear.

Early commentary suggests a mixed picture, with some applauding Netflix’s call to put Baylee, winner of 2017’s Sports Illustrated Model Search, at the front. Meanwhile, others dismissively declared the move as Netflix “…going back to the same dry well for ideas.” It would likely change things to see a trailer with some actual footage, or it may simply polarize people’s current opinions.

Is Netflix Stock a Good Buy Right Now?

Turning to Wall Street, analysts have a Moderate Buy consensus rating on NFLX stock based on 30 Buys and 10 Holds assigned in the past three months, as indicated by the graphic below. After a 0.32% rally in its share price over the past year, the average NFLX price target of $114.50 per share implies 20.27% upside potential.

Disclosure

Disclaimer & DisclosureReport an Issue