The stock of Netflix, Inc. (NASDAQ:NFLX) gapped up by $15.77 today and has $155.58 target or 31.00% above today’s $118.76 share price. The 6 months technical chart setup indicates low risk for the $50.09B company. The gap was reported on Oct, 18 by Barchart.com. If the $155.58 price target is reached, the company will be worth $15.53B more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 39.66 million shares traded hands or 317.91% up from the average. Netflix, Inc. (NASDAQ:NFLX) has risen 1.98% since March 15, 2016 and is uptrending. It has underperformed by 3.50% the S&P500.
Netflix, Inc. (NASDAQ:NFLX) Ratings Coverage
Out of 43 analysts covering Netflix (NASDAQ:NFLX), 26 rate it a “Buy”, 6 “Sell”, while 11 “Hold”. This means 60% are positive. Netflix has been the topic of 95 analyst reports since August 4, 2015 according to StockzIntelligence Inc. Bernstein maintained Netflix, Inc. (NASDAQ:NFLX) on Tuesday, July 19 with “Underperform” rating. The firm earned “Buy” rating on Tuesday, September 1 by Bank of America. Cantor Fitzgerald maintained the stock with “Buy” rating in Saturday, September 5 report. As per Monday, November 16, the company rating was maintained by Topeka Capital Markets. The stock of Netflix, Inc. (NASDAQ:NFLX) has “Overweight” rating given on Monday, October 12 by Morgan Stanley. Axiom Capital initiated the stock with “Sell” rating in Monday, August 29 report. The company was maintained on Tuesday, July 19 by PiperJaffray. The firm has “Overweight” rating by Piper Jaffray given on Tuesday, February 2. The rating was maintained by Oppenheimer with “Outperform” on Wednesday, January 20. On Friday, February 12 the stock rating was downgraded by FBR Capital to “Mkt Perform”.
According to Zacks Investment Research, “Netflix is the world’s leading Internet television network with millions of subscribers in nearly 50 countries who have access to an ever-expanding library of TV shows and movies, including original programming, documentaries and feature films. The company offers the ability to watch as subscribers want, anytime, anywhere, on nearly any Internet-connected screen.”
Insitutional Activity: The institutional sentiment increased to 1.13 in Q2 2016. Its up 0.26, from 0.87 in 2016Q1. The ratio is positive, as 100 funds sold all Netflix, Inc. shares owned while 184 reduced positions. 88 funds bought stakes while 232 increased positions. They now own 333.23 million shares or 7.72% less from 361.10 million shares in 2016Q1.
Neuberger Berman Group Incorporated Limited Liability Com has invested 0.01% of its portfolio in Netflix, Inc. (NASDAQ:NFLX). Northern has invested 0.14% of its portfolio in Netflix, Inc. (NASDAQ:NFLX). Stevens Capital Mngmt L P last reported 0.02% of its portfolio in the stock. Advent Capital De has invested 0% of its portfolio in Netflix, Inc. (NASDAQ:NFLX). Ar Schmeidler And Co Inc, a New York-based fund reported 15,475 shares. The Connecticut-based Conning Inc has invested 0.04% in Netflix, Inc. (NASDAQ:NFLX). The Washington-based Parametric Associate Ltd Liability has invested 0.14% in Netflix, Inc. (NASDAQ:NFLX). Jump Trading Ltd Llc reported 62,607 shares or 0.25% of all its holdings. Bluecrest Capital Limited last reported 0.03% of its portfolio in the stock. Geneva Advsr reported 5,532 shares or 0.01% of all its holdings. Arrow Fincl, a New York-based fund reported 38,246 shares. General Com last reported 0% of its portfolio in the stock. Point72 Asset Mgmt Lp last reported 835,844 shares in the company. Jefferies Grp Ltd Co accumulated 0% or 3,436 shares. Addison Cap Com, a Pennsylvania-based fund reported 6,356 shares.
Insider Transactions: Since April 19, 2016, the stock had 2 insider buys, and 18 sales for $41.20 million net activity. BARTON RICHARD N had sold 1,400 shares worth $136,997 on Thursday, September 1. $8.10 million worth of Netflix, Inc. (NASDAQ:NFLX) shares were sold by HASTINGS REED. On Thursday, July 21 HOAG JAY C bought $51.86M worth of the stock or 600,000 shares. HALEY TIMOTHY M sold $1.56 million worth of stock or 16,172 shares.
More notable recent Netflix, Inc. (NASDAQ:NFLX) news were published by: Fool.com which released: “Netflix Inc.’s Crushing Quarter: What You Need to Know” on October 18, 2016, also Profitconfidential.com with their article: “Netflix, Inc.: Why NFLX Stock Is Red-Hot Today” published on October 18, 2016, Fool.com published: “Better Buy: Netflix, Inc. vs Amazon” on October 15, 2016. More interesting news about Netflix, Inc. (NASDAQ:NFLX) were released by: Valuewalk.com and their article: “Netflix, Inc. Still Doubted Despite Soaring Stock And Topping Expectations” published on October 18, 2016 as well as Bloomberg.com‘s news article titled: “China’s Netflix Wannabes Spend Billions to Win New Viewers” with publication date: October 17, 2016.
NFLX Company Profile
Netflix, Inc. (Netflix), incorporated on August 29, 1997, is a well-known provider of Internet television network. The Company’s members can watch original series, documentaries and feature films in Internet-connected screen. The Firm has three operating divisions: Domestic streaming, International streaming and Domestic DVD. The Domestic and International streaming divisions derive revenues from monthly membership fees for services consisting of streaming content. The Domestic DVD segment derives revenues from monthly membership fees for services consisting of digital video disc (DVD)-by-mail.
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