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Actions of Netflix (NASDAQ: NFLX) jumped more than nine points, or 2.70%, in early trading on Thursday after analysts upgraded that highlighted the company's dominant position in the video streaming market.
Mark Mahaney of RBC Capital Markets raised his NFLX price target to $ 440 from $ 360, an increase of about 30% from the closing price of $ 341.18 per share. Wednesday. The analyst also reiterated his "outperformance" rating for the stock, stating in a note to the client that his company views the video streaming giant "as one of the best derivatives of strong growth in online video and video. smartphones, Internet TVs), through exclusive tracking of our survey data, we have significantly improved customer satisfaction levels.
Mahaney drew attention to the positive results of a recent RBC survey of more than 1,500 US consumers – showing that 68% of Netflix subscribers are "extremely" or "very satisfied" with the service. of the society. the streaming company. In addition, the analyst said the results showed a sequential increase in penetration levels, "consistently strong customer satisfaction trends," low churn, and improved content.
"We believe these results largely confirm Netflix's strong value-added and competitive position," said Mahaney, estimating that the company based in Los Gatos, California, has reached a level of growth, growth and profitability. reflected in its stock market price. "
Share price action Netflix
Netflix shares, which plunged nearly 20% from their highest level in 52 weeks to $ 432.21 / June 21, pushed up 1.35% to $ 344 and a change at the time of publication Friday .
Despite recent losses, NFLX remains up 98.5% year-on-year compared to Thursday, compared to a gain of 17.2% recorded by the S & P 500. The stock continues from the beginning of 2017.
Of the 32 analysts who hedge Netflix shares, 19 are rated Strong Buy, 2 are Buy, 9 are Hold and 2 are Sell.
The ticker is currently trading at 79 times the 12-month EPS forecast. Trailing-12 P / E prints above 157x.
References: CNBC, The Fly
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