Analysts at Vetr Inc. upgraded shares of Netflix Inc. (NASDAQ: NFLX) from Hold to Buy today.With a rating of Buy on the stock, the company has a 52-week high of $133.27. A number of other analysts have commented on the company in recent days, and Netflix Inc. has secured a consensus one-year price target of $104.14, above the opening price of $98.78, a difference of 10.54 percent. Share prices often trend to the upside on recommendations and new price targets of professional analysts.
U.S. stocks on Monday closed essentially flat, after trading firmly higher, in a volatile session ahead of the start of a pair of closely watched central-bank policy meetings.
The Dow Jones Industrial Average DJIA, -0.02% closed down 3.63 points at 18,120.17.
The blue-chip index had been up by as much as 131 points earlier and traded within a 162-point range.
The S&P 500 SPX, +0.00% slipped 0.04 points to close at 2,139.12, after trading within an 18-point range
Meanwhile, the Nasdaq Composite Index COMP, -0.18% declined 9.54 points, or 0.2%, to close at 5,235.03.
Earlier, the index had been up by as many as 37 points and traded with a 58-point range
Yesterday Netflix Inc. (NASDAQ: NFLX) shares last traded at $98.84, which represents a spike of $0.78 over the previous closing price. Opening at $98.78, they ranged from $97.66 and $99.10 throughout the day.
Netflix Inc. (NASDAQ: NFLX) now has a market cap of 42.38B.
The stock’s average daily volume is 10,818,300 shares out of a total float 421,492,000 and some 1,720,857 shares traded hands yesterday, 87 percent lower than the norm. Trading volume is likely to increase in the next few days as swing traders often use upticks in trading volume to identify substantial volume growth or circulation by institutional investors.
While increased trading for one day will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks expresses a positive cue to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors have substantial teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.
By following the activity of these professional investors—and the moving averages they affect—it allows for traders to make more useful decisions on trades.
Trades for Netflix Inc. (NASDAQ: NFLX) have ranged from $79.95 – 133.27, and the stock now has a 50-day MA of $96.47 and 200-day MA of $96.23. Today’s last price is 0.26% lower than the 52 week high of $133.27.
Earnings growth is a crucial factor to consider when buying stocks and investors identify companies that have increased their earnings at least 25% or more for 3 consecutive years.
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