Netflix (NFLX) has been under a strong bear grip, hence the stock is down -2.46% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 5.88% in the past 1 week. The stock has risen by 6.33% in the past week indicating that the buyers are active at lower levels, but the stock is down -0.03% in the past 4 weeks.
Netflix (NASDAQ:NFLX): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $93.77 and $93.56 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $97.74. The buying momentum continued till the end and the stock did not give up its gains. It closed at $97.03, notching a gain of 3.84% for the day. The total traded volume was 18,364,801 . The stock had closed at $93.44 on the previous day.
The stock has recorded a 20-day Moving Average of 4.7% and the 50-Day Moving Average is 2.76%. Netflix, Inc. is up 6.81% in the last 3-month period. Year-to-Date the stock performance stands at -15.17%.
Netflix (NFLX) stock is expected to deviate a maximum of $21.3 from the average target price of $107.1 for the short term period. 29 Street Experts have initiated coverage on the stock with the most promising target being $139 and the most muted being $50.
Netflix, Inc. is a provider of Internet television network. The Company has over 57 million streaming members in over 50 countries. Its members can watch more than two billion hours of television (TV) shows and movies per month, including original series, documentaries and feature films on Internet-connected screen. The Company has three operating segments: Domestic streaming, International streaming and Domestic DVD. The Domestic and International streaming segments 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 DVD-by-mail. Its members can play, pause and resume watching, all without commercials or commitments. Additionally, in the United States, its members can receive DVDs to their homes. The Company offers streaming service both domestically and internationally.