In a report released today, Douglas Mitchelson from Credit Suisse maintained a Buy rating on Netflix (NFLX), with a price target of $440.00. The company’s shares closed last Tuesday at $372.28, close to its 52-week high of $393.52.
Mitchelson wrote:
“ZuRICH (dpa-AFX Analyser) – Die Schweizer Bank Credit Suisse hat die Einstufung fur Netflix auf “Outperform” mit einem Kursziel von 440 US-Dollar belassen. Jungste App-Downloads starkten erst recht seine Einschatzung, dass die Marktschatzungen fur den Nettokundenzuwachs im ersten Quartal des Film- und Streaming-Konzerns zu niedrig seien, schrieb Analyst Douglas Mitchelson in einer am Mittwoch vorliegenden Studie./ajx/mne
Veroffentlichung der Original-Studie: 08.04.2020 / 04:33 / UTC
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According to TipRanks.com, Mitchelson is a 5-star analyst with an average return of 10.7% and a 56.3% success rate. Mitchelson covers the Services sector, focusing on stocks such as Charter Communications, Dish Network, and Walt Disney.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Netflix with a $384.66 average price target, a 1.2% upside from current levels. In a report issued on April 1, Bernstein also maintained a Buy rating on the stock with a $487.00 price target.
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Based on Netflix’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $5.47 billion and net profit of $587 million. In comparison, last year the company earned revenue of $4.19 billion and had a net profit of $134 million.
Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NFLX in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Netflix, Inc. is a streaming entertainment service company, which provides subscription service streaming movies and television episodes over the Internet and sending DVDs by mail. It operates through the following segments: Domestic Streaming, International Streaming and Domestic DVD. The Domestic Streaming segment derives revenues from monthly membership fees for services consisting solely of streaming content to its members in the United States. The International Streaming segment includes fees from members outside the United States. The Domestic DVD segment covers revenues from services consisting solely of DVD-by-mail. The company was founded by Marc Randolph and Wilmot Reed Hastings Jr., on August 29, 1997 and is headquartered in Los Gatos, CA.
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