Phillip Securities adjusted its stance on Netflix (NASDAQ:NFLX) stock, downgrading the rating from Neutral to Reduce, even as the firm increased the price target to $870 from the previous $695. The revision comes in the wake of Netflix's strong membership growth and the success of its advertising business,

A strong slate of recent original shows and live events is likely to have encouraged people to sign up for the streaming service.

Netflix added 19 million subscribers over the last quarter of 2024, vaulting the company to 302 million subscribers worldwide. Revenue jumped 16% over the final three months of 20

U.S. stock index futures rose on Wednesday, led by those tied to the Nasdaq, as investors cheered streaming giant Netflix's strong quarterly performance and President Donald Trump's multi-billion dollar support to bolster AI infrastructure.

Streaming giant Netflix (NASDAQ:NLFX) trounced Wall Street expectations with a fourth quarter earnings report that excelled across the board. Sales, profits, and subscriber numbers all surged year-over-year and sequentially as new programming and sports offering drew in record views.

Netflix, Oracle and other tech stocks lifted U.S. indexes as their profits pile higher and excitement builds around AI's moneymaking prospects.

U.S. stock indexes rose on Wednesday due to stronger-than-expected earnings from major tech companies and growing optimism for AI.