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Netflix Gains On Signaling Video Games Play, UBS Upgrade

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Netflix Gains On Signaling Video Games Play, UBS Upgrade© Reuters.

By Dhirendra Tripathi, 15th July 2021. Investing.com

Investing.com – Netflix (NASDAQ:NFLX) stock was up 2.7% in Thursday’s premarket trading amid increasing chatter it may add video games to its streaming platform.

A signal to this effect came Wednesday with the news of the company hiring Mike Verdu as vice president of game development, reporting to Chief Operating Officer Greg Peters.

Verdu was previously Facebook’s vice president in charge of working with developers to bring games and other content to Oculus virtual-reality headsets, according to Bloomberg.

Netflix plans to offer video games on its streaming platform within the next year, Bloomberg said. The games will appear with the existing portfolio as a new programming genre.

While the stock buzzes on the addition of new dimensions to streaming services by the company, it also got a little bump from an upgrade by UBS, which now has a target price of $620, 13% above its closing level on Wednesday. Analyst Eric Sheridan retained his ‘buy’ on the stock, according to StreetInsider.  

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On 14/11/2023 at 00:17, Cestenert said:

It's a smart move, given how many people use their platform for entertainment. With Mike Verdu on board, who has a strong background in VR gaming, it'll be fascinating to see what kind of games they'll introduce.

And yes, I'm a gaming enthusiast myself. Counter Strike has been a long-time favorite of mine. The competitive nature and teamwork required in the game always keep me hooked. Recently, I found this online marketplace dedicated to CS2 skins, which adds a whole new level of customization to the gaming experience. It's impressive how gaming continues to evolve and expand its horizons.

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