Outage Punishes Netflix, Inc.(NASDAQ:NFLX) Stock


Shares of Netflix, Inc.(NASDAQ:NFLX) are down more than 3% as reports of widespread outages are taking its toll on the stock.

According to TechCrunch, the site was down for Xbox users, and also for those who stream the service on Windows and Mac, but is still working through Amazon Prime. The outages began earlier this morning and peaked around 10:00ET. At 10:45ET, Neflix released the following statement: “There were some technical problems earlier this morning that may have made it difficult for some members to stream. This lasted for about 30 minutes.”

No word on what caused the problem, but Netflix has dismissed any actions by hackers.

Shares of NFLX last traded at $320.95 with a 52-week range of $161.80 to $458.00.

Analysts have a consensus price target of $359.71 on Netflix Inc., (NASDAQ:NFLX) which indicates a 6.42% upside. The consensus rating of the stock is a HOLD with a score of 2.26. There are currently 23 Hold Ratings, 4 sell ratings and 15 Buy ratings on the stock.

The most recent analyst action consisted of Oppenheimer upgrading the stock from Market Perform to Outperform on April 7th, 2014.


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