Cowen & Co. reaffirms its “Buy” rating for Netflix (NASDAQ:NFLX), raising the price target from $775 to $820.
A Wall Street analyst turns bearish on Netflix, signaling a potential shift in market sentiment.
Netflix’s stock performance remains strong, with a current price of $719.70 and nearing its 52-week high of $725.26.
On October 7, 2024, Cowen & Co. maintained its “Buy” rating for Netflix (NASDAQ:NFLX), with the stock priced at $719.70. TD Cowen also raised its price target for Netflix from $775 to $820, as highlighted by TheFly. Netflix, a leading streaming service, competes with companies like Disney+ and Amazon Prime Video in the digital entertainment space.
Despite Cowen & Co.’s positive outlook, a Wall Street analyst has turned bearish on Netflix, indicating a shift in sentiment. This change is part of a broader trend where analysts are adjusting their views on major companies. The bearish sentiment suggests potential challenges Netflix might face in the current market environment.
Netflix’s stock price currently stands at $719.70, reflecting a 1.83% increase or $12.90. Throughout the trading day, the stock fluctuated between $708.82 and $721. It is approaching its 52-week high of $725.26, well above its 52-week low of $344.73. This indicates strong performance over the past year.
Netflix’s market capitalization is approximately $308.87 billion, showcasing its significant presence in the streaming industry. The trading volume on the NASDAQ today is 2,230,139 shares, indicating active investor interest. Despite the bearish sentiment from some analysts, the stock’s performance remains robust.
