5 key takeaways from Netflix’s Q2 earnings report
Netflix (NFLX) stock zoomed to a record high Thursday, a day after the Internet television service reported better-than-expected Q2 subscriber growth and earnings. Netflix stock was up 16%, above 114, in afternoon trading on the stock market today. It peaked intraday at 114.72, eclipsing its previous record high of 102.34 set on Monday. A flurry of Wall Street analysts raised their price targets on Netflix stock after the earnings release. “While we believe recent appreciation has hurt the risk/reward around the shares, the company’s dominant position and pending global launch warrant it being a core holding,” Pacific Crest Securities analyst Andy Hargreaves said in research report. Hargreaves reiterated his overweight rating on the stock and upped his price target to 122 from 95. For the June quarter, Netflix earned 6 cents a share, down from 16 cents a year earlier but ahead of Wall Street’s 4-cent…