Online auctions and payments leader eBay (EBAY) saw its stock dip Tuesday, the day after its PayPal unit began trading on a “when issued” basis in advance of the spinoff of the transactions business this month. Ebay stock was down a fraction in afternoon trading in the stock market today, near 62. EBay stock touched an all-time high of 66.30 in early June and is up 14% since early February. Shares of PayPal (PYPLV) began trading separately on a
Netflix (NFLX) received another bullish analyst report on Tuesday, but investors are cautious ahead of the Internet television company’s June quarter report, due out July 15. Netflix stock was down 1% to above 655 in afternoon trading on the stock market today. Netflix hit an all-time high of 706.24 on June 24. Netflix stock will split 7-for-1 after the close on July 14. Raymond James analyst Justin Patterson reiterated an outperform rating on Netflix stock and raised his price target to 730 from 585. He argued that data indicate that consumers are more loyal to the service than previously thought, Barron’s reported. A consumer survey by Raymond James also showed a shift in viewing from cable (linear TV) to streaming (on-demand video). Netflix is the biggest beneficiary of this trend, he said. Netflix has seen several bullish analyst reports with big price target hikes in recent weeks….
Rapid7 set terms for an initial public offering that looks to raise $90 million in the hot field of cybersecurity. The need for increased computer network protection has risen sharply, with the number of reported security incidents within enterprises increasing 48% in 2014 over the prior year, according to a PricewaterhouseCoopers report that Rapid7 cited in its IPO prospectus. Boston-based Rapid7 will offer 6.45 million shares at a price range of