Jefferies Sets New Price Target for Netflix Stock (NASDAQ: NFLX)

• Jefferies analyst John Colantuoni set an $85.00 price target for Netflix (NASDAQ: NFLX), suggesting a 20.40% upside from its then $70.57 price.
• Jefferies (NYSE: JEF) initiated coverage on Netflix with a “Buy” rating ahead of its earnings report.
• Netflix boasts a market capitalization of $293.85 billion with a trading volume of 39.92 million shares.

Netflix is the stock of Netflix, a streaming company that offers movies, series, and live programming. It competes for viewers with services such as Disney+ and Amazon Prime Video. Jefferies analyst John Colantuoni sets an $85.00 price target for Netflix shares, compared with their $70.57 price when the target is announced.

That target represents about 20.40% upside from $70.57. A price target is an analyst’s estimate of where a stock could trade; it is not a guaranteed return. Jefferies starts coverage of Netflix with a “Buy” rating, as highlighted by Finbold. The call comes five days before Netflix’s scheduled earnings report.

Netflix trades at $70.57, up $0.11, or 0.16%, during the session. Shares move between $69.37 and $71.26, while their 52-week range is $65.08 to $124.86. The $85.00 target is above the session’s trading range but below the stock’s 52-week high.

Netflix has a market capitalization of $293.85 billion, which is the market value of all its outstanding shares. Trading volume reaches 39.92 million shares on the NASDAQ. That figure counts shares traded during the session, rather than the number of shares the company has issued.