Netflix, Inc. (NFLX) Breaks Out to Newest High

Netflix, Inc. (NFLX) is soaring on its latest dose of positive analyst attention

by Alex Eppstein

Published on Aug 4, 2015 at 2:37 PM
Updated on Jun 24, 2020 at 10:16 AM

Netflix, Inc. (NASDAQ:NFLX) is burning it up on a bullish initiation at Guggenheim. Specifically, the brokerage firm started coverage with a "buy" rating and $160 price target, sending the shares to a record peak of $122.79 around noon. At last check, the streaming content stock remains up 8% at $121.55, bringing its year-to-date advance to 149%.

Today's positive analyst attention is par for the course. Eighteen of 28 brokerage firms consider NFLX a "buy" or better. However, the stock's consensus 12-month price target of $113.35 stands at a significant discount to the stock's current price.

Option traders have also set up shop in the bulls' camp. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), Netflix, Inc.'s (NASDAQ:NFLX) 10-day call/put volume ratio of 1.34 sits just 2 percentage points from a 12-month high. It's more of the same today, with calls outstripping puts, and likely buy-to-open activity at the weekly 8/7 120-strike call leading the way.

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