Netflix (NFLX) Crushed Post Earnings: Oppenheimer Sees Buying Opportunity

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Following a 16% sell off in Netflix (Nasdaq: NFLX) overnight, analysts at Oppenheimer research think Netflix stock represents a good buying opportunity.

"We view the selloff as a buying opportunity and reiterate our $130 target, based on 16x 2013E US earnings of $8.03. Moreover, assuming passage of H.R. 2471 by the August recesses, NFLX should begin offering 'Social-enabled TV' by the fall."

NFLX reported better than expected first quarter results this week. But the stock has been hit hard since reaching a 52 week high of $304.79 last July, and sentiment is clearly negative. Nonetheless, Oppenheimer analysts think the third quarter and full year numbers will tell the tale, and they reiterated their Outperform rating on the stock.

For an analyst ratings summary and ratings history on Netflix click here. For more ratings news on Netflix click here.

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