Netflix Shares Struggling (NASDAQ:NFLX)
Shares of Netflix, Inc. (NASDAQ:NFLX) have been struggling lately along with the broad market. After hitting a peak of $247.55 in February, shares have retreated some 23% to current levels of $201.70. Compare that with the S&P which has lost about 3% for the same period and it sure looks like Netflix may be a losing proposition.
Share of Netflix are currently trading below their 5-day moving average of $204.05 and its P/E ratio of 65.1 may be indicative the stock is nowhere near being a bargain (S&P average is 20.5). Still the company has some strong sales that has outpaced competitors.
The overall trend for Netflix appears to be down for the short term.
Netflix, Inc. provides online movie rental subscription services in the United States. The company offers its subscribers access to a library of movie, television, and other filmed entertainment titles on digital versatile disc (DVD). Its members can get DVDs delivered to their homes and can instantly watch movies and TV episodes streamed to their TVs and PCs.