New Buy Rating for Netflix (NFLX), the Technology Giant

SunTrust Robinson analyst Matthew Thornton maintained a Buy rating on Netflix (NFLXResearch Report) today and set a price target of $402.00. The company’s shares closed last Monday at $284.25.

According to TipRanks.com, Thornton is a 3-star analyst with an average return of 3.6% and a 37.5% success rate. Thornton covers the Technology sector, focusing on stocks such as Spotify Technology SA, Activision Blizzard, and Yelp Inc.

Netflix has an analyst consensus of Strong Buy, with a price target consensus of $382.85, implying a 34.9% upside from current levels. In a report issued on October 2, Piper Jaffray also reiterated a Buy rating on the stock with a $440.00 price target.

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Based on Netflix’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $271 million. In comparison, last year the company had a net profit of $403 million.

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