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Stifel Nicolaus Believes Netflix (NFLX) Still Has Room to Grow

Stifel Nicolaus analyst Scott Devitt maintained a Buy rating on Netflix (NFLXResearch Report) today and set a price target of $690.00. The company’s shares closed last Tuesday at $639.00, close to its 52-week high of $646.84.

According to TipRanks.com, Devitt is a top 100 analyst with an average return of 32.3% and a 68.4% success rate. Devitt covers the Technology sector, focusing on stocks such as Jumia Technologies AG, Zillow Group Class A, and Uber Technologies.

Currently, the analyst consensus on Netflix is a Moderate Buy with an average price target of $651.84, implying a 2.3% upside from current levels. In a report issued on October 5, Cowen & Co. also reiterated a Buy rating on the stock with a $650.00 price target.

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The company has a one-year high of $646.84 and a one-year low of $463.41. Currently, Netflix has an average volume of 3.59M.

Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NFLX in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Netflix, Inc. is a subscription-based streaming service through which members can view TV shows, documentaries and movies on any internet-connected device. The company also offers its DVD-by-mail service in the United States. Founded by Marc Randolph and Wilmot Reed Hastings Jr., on August 29, 1997, Netflix is headquartered in Los Gatos, CA.

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