Netflix (NFLX) Received its Third Buy in a Row

After RBC Capital and Imperial Capital gave Netflix (NASDAQ: NFLX) a Buy rating last month, the company received another Buy, this time from Stifel Nicolaus. Analyst Scott Devitt maintained a Buy rating on Netflix yesterday and set a price target of $400. The company’s shares closed on Friday at $351.14.

Devitt wrote:

“We think the reaction in NFLX shares is overdone and continue to be long-duration supporters of Netflix strategy and stock. It baffles us how often investors want to debate who will win/lose among the winners instead of focusing more time on separating winners (Netflix and now maybe Disney) from losers in the category (cable, satellite, telecom companies, Apple?).”

According to TipRanks.com, Devitt is a top 100 analyst with an average return of 22.2% and a 70.9% success rate. Devitt covers the Technology sector, focusing on stocks such as Paypal Holdings, Eventbrite Inc, and Alphabet Inc.

Currently, the analyst consensus on Netflix is a Moderate Buy with an average price target of $403.25, a 14.8% upside from current levels. In a report issued on April 2, J.P. Morgan also reiterated a Buy rating on the stock with a $435 price target.

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Netflix’s market cap is currently $153.3B and has a P/E ratio of 131.02. The company has a Price to Book ratio of 29.26.

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