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Upgrade Alert for NetFlix (NFLX)

By Amy Schwartz

NetFlix (NASDAQ:NFLX) was upgraded from Market Perform to Outperform at William Blair today. The stock closed yesterday at $95.18 on volume of 6.2 million shares, below average daily volume of 14.6 million.

NetFlix has overhead space with shares priced $95.18, or 22.3% below the average consensus analyst price target of $122.56. The stock should find initial resistance at its 50-day moving average (MA) of $98.99 and further resistance at its 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.

In the past 52 weeks, shares of NetFlix have traded between a low of $78.90 and a high of $133.27 and closed yesterday at $95.18, which is 21% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has remained constant.

SmarTrend is tracking the current trend status for NetFlix and will alert subscribers who have NFLX in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades Netflix

Ticker(s): NFLX