Netflix Receives Overweight Rating from Pacific Crest (NFLX)

UBS analyst Doug Mitchelson and his team increased their target for Netflix by 23% from $116 to an incredible $143 per share. Netflix has a 12 month low of $45.08 and a 12 month high of $129.29.

Netflix Inc (NASDAQ:NFLX) stock is now trading 5.59% below its 52-week-high, 170.76% above its 52-week-low. Netflix Inc (NFLX) has a price to earnings ratio of 273.68 versus Services sector average of 20.99. The share price can be expected to fluctuate from the mean short term target, can be seen from the standard deviation reading of $25.82.

In other news, Director Jay C. Hoag sold 11,207 shares of Netflix stock in a transaction on Thursday, July 23rd.

Netflix (NASDAQ:NFLX) last released its earnings results on Wednesday, July 15th. Also, Director Richard N. Barton sold 2,800 shares of the business’s stock in a transaction dated Friday, August 14th. Needham & Company LLC reiterated a “buy” rating and issued a $111.00 target price on shares of Netflix in a research note on Thursday, July 16th. The Internet television network reported $0.06 earnings per share for the quarter, topping the analysts’ consensus estimate of $0.04 by $0.02.

These are companies that have been hot over the past year and undoubtedly investors have taken up positions in most of these stocks recently, perhaps with the exception of Micron. Finally, Bank of America raised Netflix from an “underperform” rating to a “buy” rating and raised their price objective for the company from $50.00 to $103.14 in a report on Tuesday, May 5th. The company earned $1.65 billion during the quarter, compared to analyst estimates of $1.65 billion.

Netflix (NASDAQ:NFLX)’s stock had its “overweight” rating reaffirmed by investment analysts at Pacific Crest in a research note issued on Tuesday, Market Beat.com reports. They set a buy rating on the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The disclosure for this sale can be found here.

Netflix, Inc.is an Internet television network with more than 44 million members in over 40 countries. This corresponds to a decrease of $0.07 compared to the same quarter of the previous fiscal year. The Business has over 57 million streaming members in over 50 nations. The Company has three operating segments: global streaming Domestic streaming and Domestic DVD. Members can play, pause and resume watching, all without commercials or commitments. The analyst increased his long-term revenue forecasts on the belief that the company would benefit from other areas such as bundling/promoting third-party services, apart from the monthly subscription fees. Additionally, in the United States, its members can receive DVDs to their homes. Still, we continue to recommend shares despite equivalent upside and downside to Netflix’s stock as we believe catalysts will continue to be positive, in particular both U.S. and global subscriber performance as the company continues to ramp its original content line-up and ramp the number of worldwide markets it serves.