Just days ago, streaming giant Netflix (NFLX) already landed one win with its NFL football presentation that turned out to be a huge victory for the streamer. But as it turned out, another victory was waiting in the wings thanks to Squid Game‘s second season. But two big wins proved too little for investors, as shares slipped fractionally in the closing minutes of Monday’s trading.
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Most figured that Squid Game would be a winner when it came back to Netflix, especially given how well season one did. A report from Forbes noted that Squid Game proved to be Netflix’s most streamed series ever, and the results were not even close. But the second season managed to deliver a win all its own: it was the leading show on Netflix. And when I say the “leading show,” I mean it: it debuted in the number one slot in all 93 countries where Netflix service can be had. Period.
It was number one in the United States, it was number one in Honduras, it was number one in Cyprus. If they had Netflix, it was the hit of the day. While the numbers on viewership are not yet available, there are already stirrings at Forbes that Squid Game will ultimately beat the 2.2 billion hours of total viewership its predecessor racked up. Moreover, this season of Squid Game is substantially shorter, with just seven episodes instead of nine as there were last season.
So…When’s Season 3?
It therefore becomes something of a foregone conclusion that there will be a season three of Squid Game. Season one was a powerhouse in its own right, and when its sequel delivers a number one sweep like the second season did, a third season is all but inevitable. USA Today started running the numbers to see how long a third season might take.
But, noted the report, do not look for a season four. The third season will be the last, noted Hwang Dong-hyuk, the series’ creator, director, writer, and executive producer. The third season will come out in 2025, at some point. A more specific release date has not yet dropped, but will “soon,” noted Hwang himself. And yes, those hoping that Seong Gi-hun will continue his hunt for payback against the Squid Game creators will not be dissatisfied, as he will indeed continue to be on the hunt therein.
Is Netflix Stock a Good Buy Right Now?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on NFLX stock based on 24 Buys, 10 Holds and two Sells assigned in the past three months, as indicated by the graphic below. After a 92.45% rally in its share price over the past year, the average NFLX price target of $839.55 per share implies 8.19% downside risk.
