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Pro Analysis

Netflix bulls on Wall Street unfazed by mixed results — research wrap

Netflix CEO Reed Hastings delivers a keynote address in front of an image of actor Kevin Spacey from "House of Cards" during CES 2016 in Las Vegas.
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Netflix CEO Reed Hastings delivers a keynote address in front of an image of actor Kevin Spacey from "House of Cards" during CES 2016 in Las Vegas.

Netflix bulls on Wall Street were unfazed by mixed first-quarter financial results from the video streaming company even after the shares were down 2 percent midday Tuesday in response to the report.

About 60 percent of Wall Street analysts still have buy ratings on Netflix, according to FactSet.

Below is a summary of what Wall Street firms are now telling clients to do with the stock.

Goldman Sachs

Goldman analyst Heath Terry reaffirmed his buy rating on Netflix and $170 price target for the shares, representing 15 percent upside from Monday's close.

"With ~20 percent growth in content spend (est.) this year, a growing distribution ecosystem and expanding addressable base, we believe that Netflix remains on track in building out an unmatched global entertainment platform."