Piper Jaffray analyst, Michael Olson, reiterated his Overweight rating on shares of Netflix (NASDAQ: NFLX) after completing its ~8500 teen, semi-annual, Taking Stock With Teens survey. In the survey, teens were asked what percentage of their time they watch Netflix, Cable TV, Alphabet's (NASDAQ: GOOGL) YouTube and other OTT platforms. Netflix led the survey in terms of share, but was down slightly (38% vs. prior 39%) and YouTube representing the largest gainer at 33% vs. 30% prior.

The analyst stated "There are three takeaways to highlight: 1) On average, teens in our survey said they use Netflix for 38% of their daily video consumption, a slight decline from 39% in our Spring 2018 survey. 2) Netflix was the most popular service, well ahead of runner up YouTube at 33%, up from 30%, and Cable/Sat TV, down to 16% from 20%; Hulu and Amazon were flat at 5% and 3%, respectively. 3) Cable/Sat subscriptions continue to decline".

No change to the price target of $430.

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

Shares of Netflix closed at $335.20 yesterday.