These Analysts Revise Price Targets On Netflix After Q1 Results

Netflix, Inc. NFLX posted upbeat earnings for its first quarter, but sales missed estimates.

Netflix reported first-quarter revenue of $8.16 billion, which was up 3.7% year-over-year. The revenue missed a Street estimate of $8.18 billion. The company reported first-quarter earnings per share of $2.88, which beat a Street estimate of $2.86.

Netflix shares fell 3.7% to trade at $321.24 on Wednesday.

These analysts made changes to their price targets on Netflix following earnings announcement.

• UBS raised the price target on Netflix from $350 to $390. UBS analyst John Hodulik upgraded the stock from Neutral to Buy.
• Deutsche Bank raised the price target on Netflix from $400 to $410. Deutsche Bank analyst Bryan Kraft maintained a Buy rating.
• JP Morgan cut the price target on Netflix from $390 to $380. JP Morgan analyst Doug Anmuth maintained the stock with an Overweight rating.
• Piper Sandler increased the price target on Netflix from $325 to $350. Piper Sandler analyst Thomas Champion maintained the stock with a Neutral.
• Rosenblatt raised the price target on Netflix from $343 to $357. Rosenblatt analyst Barton Crockett maintained the stock with a Neutral.
• Benchmark analyst Matthew Harrigan, meanwhile, reiterated Netflix with a Sell and maintained a $250 price target.

Read More: Investor Optimism Declines Following Earnings Reports