Netflix (NFLX) late Tuesday announced a 7-for-1 stock split in a move to make its shares more attractive to retail investors. Netflix stock jumped 3% in after-hours trading to around 704 on the news. During the regular session Tuesday, Netflix stock rose nearly 1% to 681.19. The Internet television service hit a record high of 692.79 on June 10. The Los Gatos, Calif.-based company said the stock split will occur on July 14 to shareholders of
Internet video service Netflix (NFLX) received its second bullish report in about as many trading days on Monday. BTIG Research analyst Richard Greenfield reiterated his buy rating on Netflix stock and raised his 12-month price target to 950 from 600. Netflix stock was up more than 2%, near 673, in midday trading on the stock market today. Netflix stock is approaching its all-time high of 692.79, reached on June 10. On Thursday, Oppenheimer analyst Jason Helfstein raised his 12-18 month price target on Netflix stock to 775 from 610 and maintained an outperform rating. Greenfield’s bullish note on Netflix is based on his view that the breakdown in the traditional media ecosystem is benefiting the streaming video service. “Netflix has a singular vision — ‘to replace linear TV,'” Greenfield said in a research note. “The traditional media ecosystem is simply ill-prepared to make the transition as they rely…
The sky’s the limit for Netflix (NFLX) stock, based on a report Friday from investment bank Oppenheimer & Co. Oppenheimer analyst Jason Helfstein on Thursday raised his 12-18 month price target on Netflix stock to 775 from 610 and maintained an outperform rating. Netflix stock is up 94% this year through Thursday’s close. It started the year at 341.61. It blew past 500 on April 16 and then smashed through 600 on May 15. In afternoon trading Friday, Netflix was down a fraction, near 661. In a research report, Helfstein said he increased his price target on the subscription Internet television service based on its aggressive international expansion plans. “We estimate Netflix’s five oldest markets — U.S., Canada, Brazil, U.K. and Ireland — will end 2015 at an average broadband penetration rate of 30%,” Helfstein said. “Our revised model now assumes 2020 global subscribers at 239 million, or 32% penetration of broadband homes.”…