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 SunTrust Robinson. Analyst Matthew Thornton maintained a Buy rating on Netflix today and set a price target of $402. The company’s shares closed on Friday at $351.14.

According to TipRanks.com, Thornton is a 3-star analyst with an average return of 4.9% and a 44.3% success rate. Thornton covers the Technology sector, focusing on stocks such as Activision Blizzard, Criteo SA, and Yelp Inc.

Currently, the analyst consensus on Netflix is a Moderate Buy with an average price target of $401.54, which is a 14.4% 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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Based on Netflix’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $134 million. In comparison, last year the company had a net profit of $290 million.

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