Technology

Raymond James, Goldman Sachs Lower Netflix Price Target

Raymond James and Goldman Sachs is forecasting hike in the interest rates in near future. For this reason, the companies have decided not to increase the price of Netflix. Goldman came up with a great report for Netflix and informed that the company will be doing great but when it came to pricing of this streaming video channel, it controlled the price. The one year price tag for the company has been lowered from 470 dollars to 430 dollars.

As per a note from Heath Terry, the spokesperson from Goldman Sachs, they kept in mind the overall market performance and increasing interest rates in mind while determining the stock prices of Netflix. On the other hand, Raymond James also kept the stock prices of Netflix at $400 per share which is lower than the present $445. He also feels that as the interest rates rises; the profits of this streaming video channel will gradually slow down. In the meantime the share prices of Netflix have already started going down. The price fell by 6.1% last week due to the stringent monetary policies, growing tensions in the trade market and hike in the interest rates. The stock declined by 0.5% in the pre-market trading on Monday. Prior to this fall, the stock price was 339.56 dollars per share. Raymond James informed that they have lowered the target- price of Netflix shares by 10% ($400 per share) to create a rising interest rate environment.

Citigroup asked the investors on Friday to buy the stocks now as the price is low. As per the Organization, this is the best entry time for the new investors. The company has speculated the share price to 375 dollars for Netflix. They have a different perspective to the recent share sell offs; they believe these share sell offs can lead to further revenue generation in future.

Sam Robertson

Sam is a post-graduate in Computer science and has an immense interest in following technology developments. Quite by nature, he is an football And chess player. He is responsible for handling the office staff writers and providing them with the latest updates happenings in the world of technology.

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