Netflix (NFLX) Receives a Rating Update from a Top Analyst
In a report released today, Eric Sheridan from UBS maintained a Buy rating on Netflix (NFLX), with a price target of $420. The company’s shares opened today at $354.74.
According to TipRanks.com, Sheridan is a top 100 analyst with an average return of 15.5% and a 71.7% success rate. Sheridan covers the Technology sector, focusing on stocks such as Spotify Technology SA, Activision Blizzard, and Match Group Inc.
Currently, the analyst consensus on Netflix is a Moderate Buy with an average price target of $409.07, representing a 15.3% upside. In a report issued on April 2, J.P. Morgan also reiterated a Buy rating on the stock with a $435 price target.
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Based on Netflix’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $134 million. In comparison, last year the company had a net profit of $290 million.
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