AAL

Netflix Stock Hit with Pre-Earnings Bull Note

TD Cowen lifted its price target, keeping a "buy" rating

Deputy Editor
Jul 9, 2024 at 10:41 AM
facebook X logo linkedin


TD Cowen raised its price target on Netflix Inc (NASDAQ:NFLX) to $775 from $725 today, ahead of the streaming giant's second-quarter report, due out after the close on July 18. The firm also reiterated its "buy" rating and increased its long-term subscriber estimates, pointing to continued growth expectations. At last glance, NFLX was up 0.4% at $688.66, near its recent July 5 two-year peak of $697.49. 

The equity could see pressure from the $700 region, as last week's highs, as well as its November 17, 2021 record peak of $700.98, were cut short there. Since October, Netflix stock only notched one monthly loss -- in April. Year to date, the Big Tech name is up 41.5%. 

NFLX has a history of outsized post-earnings moves, averaging a 9.5% move, regardless of direction, over the past two years. The options pits are pricing in a 10.7% next-day swing this time around, so prepare for potential volatility next week. Netflix stock has had five positive reactions following its last eight quarterly reports, including a 16.1% pop this past October. 

 

 

 

 

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.