Netflix was Upgraded to a Buy Rating at Loop Capital Markets

By Austin Angelo

Loop Capital Markets analyst David Miller upgraded Netflix (NASDAQ: NFLX) to Buy today and set a price target of $151. The company’s shares closed yesterday at $122.19.

According to TipRanks.com, Miller is a 5-star analyst with an average return of 11.9% and a 63.6% success rate. Miller covers the Services sector, focusing on stocks such as Madison Square Garden Co., Cinemark Holdings Inc, and Clear Channel Outdoor.

Currently, the analyst consensus on Netflix is Moderate Buy and the average price target is $125.57, representing a 2.8% upside.

In a report issued on November 8, Nomura Holdings also reiterated a Buy rating on the stock with a $130 price target.

The company has a one year high of $133.27 and a one year low of $79.95. Currently, Netflix has an average volume of 9.15M.

Based on the recent corporate insider activity of 65 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NFLX in relation to earlier this year. Most recently, in August 2016, Jay Hoag, a Director at NFLX bought 300,000 shares for a total of $28,291,000.

Netflix, Inc. operates as an Internet subscription service company, which provides subscription service streaming movies and TV episodes over the Internet and sending DVDs by mail. The company operates its business through the following segments: Domestic streaming, International streaming and Domestic DVD. Netflix obtains content from various studios and other content providers through fixed-fee licenses, revenue sharing agreements and direct purchases. It markets its service through various channels, including online advertising, broad-based media, such as television and radio, as well as various partnerships. Netflix was founded by Marc Randolph and Wilmot Reed Hastings Jr., on August 29, 1997 and is headquartered in Los Gatos, CA.