Give streaming giant Netflix (NASDAQ:NFLX) credit for trying; it’s eager to provide value for its customers. It’s got plans to step into sports, expand on gaming, and also into brick-and-mortar shopping. The strange but ambitious new plan is drawing attention, though not all positive. In fact, Netflix is down fractionally in Tuesday afternoon’s trading on the news.
The sports part of this is known as “The Netflix Cup” and will start streaming live at 6:00 PM ET on November 14. The Netflix Cup will feature an all-Netflix duel, as golfers from the series “Full Swing” take on Formula One drivers from “Formula 1: Drive to Survive.” This is actually somewhat handy, as the game will be played at the Wynn Golf Club in Las Vegas, right around the same time as the Las Vegas Grand Prix starts its first event ever.
But that’s not all. Netflix is also somewhat bringing back the video store. While COVID-19 and the government reactions to it therein basically killed off the last of the video stores when Family Video shut its doors in early 2021, Netflix has a plan to bring them back. Kind of. Known as “Netflix House,” the new stores will start up in 2025 in just two cities before expanding globally. The stores in question won’t really rent videos but rather will sell merchandise around Netflix properties and offer other experiences as well. One idea currently rumored features a live-action obstacle course with a “Squid Game” theme.
What is the Fair Price for Netflix Stock?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on NFLX stock based on 18 Buys, 14 Holds, and one Sell assigned in the past three months, as indicated by the graphic below. Furthermore, the average NFLX price target of $454.64 per share implies 27.19% upside potential.