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Downgrade Alert for NetFlix (NFLX)

By David Diaz

NetFlix (NASDAQ:NFLX) was downgraded from Buy to Hold at Needham today. The stock closed yesterday at $97.91 on volume of 25.8 million shares, above average daily volume of 14.6 million.

Over the past year, NetFlix has traded in a range of $78.90 to $133.27 and closed yesterday at $97.91, 24% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has remained constant.

NetFlix (NASDAQ:NFLX) has potential upside of 25.2% based on a current price of $97.91 and analysts' consensus price target of $122.56. NetFlix shares should first meet resistance at the 50-day moving average (MA) of $98.99 and find additional resistance at the 200-day MA of $106.20.

Netflix Inc. is an online movie rental service. The Company ships up to three DVDs at a time, with no due dates or late fees, directly to the subscriber's address. Netflix also provides background information on DVD releases, including critic reviews, member reviews and ratings, and personalized movie recommendations.

SmarTrend is monitoring the recent change of momentum in NetFlix. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of NetFlix in search of a potential trend change.

Keywords: analyst upgrades/downgrades Netflix

Ticker(s): NFLX