Netflix Inc (NASDAQ:NFLX) shares are trading higher by 5% at $448.28 amid a continued rebound in technology-related names. Citigroup on Monday upgraded the stock to Buy and Co-CEO Reed Hastings recently disclosed the purchase of $20 million of stock.
According to reports, Citigroup’s Bazinet cited attractive valuation on the back of strong free cash flow as a reason for the upgrade. The Citigroup analyst thinks the stock offers… Read More
See Also: If You Invested $1,000 In Each Of The FAANG Stocks One Year Ago, Here’s How Much You’d Have Now
Netflix’s primary business is a streaming video on demand service now available in almost every country worldwide except China.
Netflix has a 52-week high of $700.99 and a 52-week low of $351.46.
