In a report released today, Scott Devitt from Stifel Nicolaus maintained a Hold rating on Netflix (NFLX – Research Report), with a price target of $240.00. The company’s shares closed last Friday at $175.51, close to its 52-week low of $162.71.
According to TipRanks.com, Devitt is a 4-star analyst with an average return of 6.2% and a 41.5% success rate. Devitt covers the Technology sector, focusing on stocks such as Zillow Group Class A, Alphabet Class A, and Clear Secure.
The word on The Street in general, suggests a Hold analyst consensus rating for Netflix with a $281.84 average price target, a 62.3% upside from current levels. In a report issued on June 10, Needham also maintained a Hold rating on the stock.
Based on Netflix’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $7.87 billion and net profit of $1.6 billion. In comparison, last year the company earned revenue of $7.16 billion and had a net profit of $1.71 billion.
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Netflix, Inc. is a subscription-based streaming service through which members can view TV shows, documentaries and movies on any internet-connected device. The company also offers its DVD-by-mail service in the United States. Founded by Marc Randolph and Wilmot Reed Hastings Jr., on August 29, 1997, Netflix is headquartered in Los Gatos, CA.
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