What's Going On With Netflix Stock Wednesday?

Netflix Inc NFLX seems to have managed a bounce back in the U.S., according to fresh findings by Antenna. Their research indicates that the entertainment giant's initiatives to curb password sharing and introduce an ad-supported plan might work wonders for its growth.

Antenna noted an impressive inflow of about 2.6 million Americans registering for Netflix in the recent month, Bloomberg reports. 

Even though this marks a 26% dip from the previous month, it still positions Netflix at the top among paid streaming services for July sign-ups.

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After experiencing stagnancy in its user base in the U.S. over the past few years, the streaming leader seems to be witnessing a resurgence. Nearly a quarter of the recent users opted for Netflix's ad-supported plan, which rolled out just last November. 

It's noteworthy that Netflix has implemented these strategies in response to declining user subscriptions during the first half of 2022.

In their recent report, Netflix unveiled a net surge of 1.17 million new accounts in North America during Q2, elevating the total count of its subscribed users in this region to a staggering 75 million.

Oppenheimer analyst Jason Helfstein reiterated Netflix with an Outperform and a $515 price target.

Price Action: NFLX shares traded higher by 1.60% at $419.78 on the last check Wednesday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.