Netflix (NFLX) Stock Drops 3% But Up Off the Lows

Shares of Netflix (NFLX) are trying to stage a rally this morning after the stock dropped over 7% last night.  Netflix (NFLX) stock is currently trading at $254, only down 3% now.

Netflix (NFLX) beat earnings by $0.09 but only reported inline revenue.  The company reported a wide guidance range which came in a little better than expected.  However, when your stock rallies from $220-$268 into earnings, you better beat and raise by a mile to keep the rally alive.  Netflix (NFLX) failed to do this.

JP Morgan doesn't seem to mind as they raised their 2014 price target on NFLX to $290.

NFLX is a strong buy below $230 if we ever see another dip.

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