Shares of Netflix, Inc. NFLX tumbled almost 13 percent on Tuesday, following the announcement of the company’s first quarter financial results on Monday afternoon. While earnings beat estimates, revenue and subscriber growth figures failed to impress the Street.
Following such a marked decline in the stock price, top raters at the Vetr community decided to upgrade their rating on the stock from 3.0 Stars to 4.0 Stars -- out of a possible 5.0 Stars rating.
Related link: Here's How Crowdsourced Ratings Can Beat The Market
The new rating reflects the crowd’s average price target of $104.09, which now implies an 8.5 percent upside potential from current valuations.
Finally, investors should notice that 81 percent of the crowd's ratings are bullish.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
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