Don't overlook Netflix's future stake in the artificial intelligence race, according to Needham.
Analyst Laura Martin upgraded the streaming stock to buy from hold, saying its "tech-first culture" makes it one of the best-positioned streamers to benefit from the transition to AI.
The upgrade from Needham comes on the heels of the media company's first-quarter earnings report.
Netflix surpassed earnings expectations and said it will stop disclosing quarterly subscriber numbers and average revenue per membership next year.
NFLX YTD mountain Shares this year Martin also lifted the firm's price target to $700 a share, suggesting that shares can rally another 15% from Thursday's close.
Persons:
Needham, Laura Martin, Martin
Organizations:
Netflix
Locations:
Thursday's