Technology

Netflix Inc. (NASDAQ:NFLX) hits 52-week high after receiving price target lift from J.P. Morgan

Netflix, Inc. (NASDAQ:NFLX) shares hit a new 52-week high of $200.82 today after analysts at J.P. Morgan lifted their 1-year price target for the stock from $210 per share to $225 per share. The upgrade came just ahead of NFLX earnings. The California-based company is set to report its financial results for the third quarter on Monday.

Netflix Inc. (NASDAQ:NFLX) performed nicely today, rising about 1.14 percent in the mid-day trading. The stock has climbed 25.08% over the past 3 months, while fell -0.06% during the past 5 days of trading.

Examining further, NFLX stock is up 59.85% year-to-date and 38.46% over the past 6 months. There are several reasons behind stock’s upward or downward movement. For instance, the company might have posted strong quarterly financial results or improved its yearly financial outlook, as well key changes in business such as buyout or M&A. Insider activities and analyst ratings also affect stock price.

Company Profile

Netflix, Inc., an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. It operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. The company offers TV shows and movies, including original series, documentaries, and feature films. It offers members with the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices. The company also provides DVDs-by-mail membership services. As of April 28, 2017, it had approximately 100 million members in 190 countries. Netflix, Inc. was founded in 1997 and is headquartered in Los Gatos, California.

Leave a Reply

Your email address will not be published. Required fields are marked *