Previous close | 30.95 |
Open | 25.10 |
Bid | 23.65 |
Ask | 24.00 |
Strike | 660.00 |
Expiry date | 2024-06-21 |
Day's range | 23.13 - 25.15 |
Contract range | N/A |
Volume | |
Open interest | 254 |
Many on Wall Street are bullish toward Netflix (NFLX), with 40 Buy ratings and 16 Hold ratings. Wedbush analysts gave the stock an Outperform rating and raised the price target to $725 from $615, but removed Netflix from its "Best Ideas List." Wedbush Securities Vice President of Equity Research Alicia Reese joins Yahoo Finance to give insight into why Wedbush removed Netflix from the "Best Ideas" list, yet remains bullish on the stock. "We were still very bullish on the stock. We just don't expect the same outsized growth in the shares that we saw over 2023. I think what we're going to see is a shift to some extent from subscriber growth in 2023 that was really outsized. A lot of that driven by the password sharing crackdown and the ad tier as its limited churn. We think ad tier will continue to limit churn over 2024 and beyond," Reese states. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. Editor's note: This article was written by Nicholas Jacobino
The cup with handle is a simple base pattern that leads to successful breakouts. Netflix gained 39% after breaking out from a cup with handle's buy point in 2023.
Netflix stock retreated Wednesday after hitting a 52-week high a day earlier. Shares have nearly doubled in the past year.