Netflix (NFLX) has risen sharply, recording gains of 11.62% in the past 4 weeks. However, the stock has corrected -0.75% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 11.19% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
Netflix, Inc. is up 3.65% in the last 3-month period. Year-to-Date the stock performance stands at -16.18%. The stock has recorded a 20-day Moving Average of 2.54% and the 50-Day Moving Average is 2.71%.
Netflix (NASDAQ:NFLX): The stock opened at $96.05 on Friday but the bulls could not build on the opening and the stock topped out at $96.78 for the day. The stock traded down to $95.51 during the day, due to lack of any buying support eventually closed down at $95.87 with a loss of -0.30% for the day. The stock had closed at $96.16 on the previous day. The total traded volume was 6,942,892 shares.
Also, In the latest statement by the brokerage house, JP Morgan maintains its outlook on Netflix (NASDAQ:NFLX). The current rating of the shares is Overweight, according to the research report released by the firm. The brokerage firm lowers the price target from $125 per share to $116 per share. The rating by the firm was issued on July 19, 2016.
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.