What’s a fair price for Netflix? Analysts debate
Netflix stock notched its second record high in as many days on Friday, before turning south and taking a slight loss for the day. Netflix peaked at 117.88 intraday Friday, passing its previous all-time high of 116.49 from Thursday. But Netflix closed the session at 114.77, down 0.9%. Netflix gapped up Thursday after reporting better-than-expected earnings and subscriber growth for the June quarter late Wednesday. Netflix’s stock price appreciation has many analysts raising their targets (as high as 155) and others scratching their heads. Netflix (NFLX) bear Michael Pachter, an analyst with Wedbush Securities, said the company’s stock performance is as much a mystery to him as it is to Netflix CEO Reed Hastings. On a conference call with analysts Wednesday, Hastings was asked about Netflix’s stock price, which is up 135% this year. Hastings famously warned of “momentum investor-fueled euphoria” in October 2013 when Netflix was trading at a …