Among the 42 analysts covering Netflix stock, 27 recommend a “buy,” nine recommend a “hold,” and six recommend a “sell.” The mean target price of $374.87 implies an 8.9% downside from the closing price on Tuesday. Many analysts have raised their target price on Netflix stock. They expect growth in the stock despite the sell-off in broader markets. While Stifel raised its target price to $440 from $390, Cowen and Company raised it to $445 from $425 today. Meanwhile, BofA Global Research also lifted the target price to $460 from $426 on Netflix stock on Tuesday.
Pivotal Research Group analyst Jeff Wlodarczak raised his target price on Netflix stock to $490 from $425. According to a MarketWatch report, Wlodarczak expects “likely higher gross subscribers and lower subscriber churn boosted by global consumer ‘stay-at-home’ orders around COVID-19.”
I think that Netflix stock could be a great bet for investors. The crisis will likely help the company boost its subscriber base due to its strong content and programming.
If you look at the technical details, the stock has a 14-day relative strength index score of 65.2, which indicates that it’s nearing “overbought” territory. Meanwhile, the stock also looks overbought. Netflix stock closed near its upper Bollinger Band level of 408.05 on Tuesday.