Netflix, Inc. (NASDAQ:NFLX) stock is in the red again despite yet another price target increase and strong commentary from CEO Reed Hastings. Clearly, the bulls continue to outweigh the bears, at least as far as analysts are concerned, but the question now is whether investors have finally seen the light after pushing Netflix stock up by some 60% year to date.
In a note to investors today, GBH Insights analyst Daniel Ives said he raised his price target for Netflix stock from $310 to $375 per share and maintained his Highly Attractive rating. He sees plenty of levers the company can pull as it pushes deeper into all of its markets. Even though competition for original content is heating up and he remains concerned about Disney and Fox, he still feels that Netflix is in a good position to growth both its content and distribution in the next year to 18 months.