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.
Follow @stockstobuy