Categories Analysis, Technology

A quick look at analyst recommendations on Netflix (NFLX) stock

Netflix (NFLX) on Friday received a major fillip after two analysts upgraded the stock with positive commentary. Shares jumped almost 3% during pre-market trading after Justin Patterson of Raymond James hiked the price target on the stock to $450, recommending Strong Buy.

The analyst had earlier given an Outperform rating with a price target of $435.

“Given underperformance in 2H18, vs. traditional media, we believe the combination of positive revisions and emerging signs of long-term profit potential will yield share price outperformance,” Patterson said, pointing out the increasing number of viewers for Bird Box.

Netflix earnings conference call Q3
Photo by on Unsplash

This comes on the heels of UBS analyst Eric Sheridan upgrading the stock from Neutral to Buy, and lifting the price target from $400 to $410. Raymond James’ and UBS’ price targets come at an upside of 38% and 26% respectively from Netflix’s last close.

Overall, 26 out of 36 analysts covering Netflix has a Buy rating on the stock. Eight recommend Hold. The streaming giant has an average 12-month price target of $386.26, implying a 19% upside from the stock’s last close.

Jeffrey Wlodarczak of Pivotal Research is the streaming giant’s biggest bull with a price target of $480. Meanwhile, with a price target of $150, Wedbush’s Michael Pachter continues to be the company’s biggest bear.

David Miller of Imperial Capital, who reiterated his Buy rating on the stock a week ago, advised investors to ignore the noise surrounding FAANG stocks. He added that the company’s fundamentals are quite strong going into the quarterly earnings, scheduled for Thursday, January 17.

Netflix now gives you the remote to the protagonist’s life

Netflix stock, which has been battered in the tech sell-off in the latter half of last year, has jumped 38% since December 24. Even at the time of the sell-off, Netflix has remained the most immune among all the FAANG stocks.


We’re on Apple News! Follow us to receive the latest stock market, earnings, and financial news at your fingertips

Most Popular

Does Unity Software (U) stock has more room to run?

Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a

PepsiCo (PEP): Steady snacking habits amid pandemic drive strong quarter for beverage giant

PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the

Does the virus-driven boom make Electronic Arts (EA) a good investment?

With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,

One thought on “A quick look at analyst recommendations on Netflix (NFLX) stock

Leave a Reply

Your email address will not be published. Required fields are marked *

Add Comment

Viewing Highlight