Netflix (NFLX) Gets a Sell Rating from Wedbush

By Carrie Williams

Wedbush analyst Michael Pachter reiterated a Sell rating on Netflix (NFLXResearch Report) today and set a price target of $183. The company’s shares closed yesterday at $379.50.

According to TipRanks.com, Pachter is a 3-star analyst with an average return of 0.5% and a 51.4% success rate. Pachter covers the Services sector, focusing on stocks such as Cinemark Holdings Inc, National Cinemedia, and AMC Entertainment.

Netflix has an analyst consensus of Strong Buy, with a price target consensus of $419.35.

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Based on Netflix’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $344 million. In comparison, last year the company had a net profit of $384 million.

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