In a report released today, Michael Pachter from Wedbush reiterated a Sell rating on Netflix (NFLX), with a price target of $188. The company’s shares closed yesterday at $362.44, close to its 52-week high of $386.80.
According to TipRanks.com, Pachter is a 4-star analyst with an average return of 4.3% and a 54.3% success rate. Pachter covers the Services sector, focusing on stocks such as Cinemark Holdings Inc, National Cinemedia, and AMC Entertainment.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Netflix with a $408.25 average price target.
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Based on Netflix’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $271 million. In comparison, last year the company had a net profit of $384 million.
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