5 Trending Stocks on Tuesday

2. Netflix, Inc. (NASDAQ:NFLX)

Number of Hedge Fund Holders: 95

Shares of Netflix, Inc. (NASDAQ:NFLX) rose nearly three percent after the opening bell on Tuesday after receiving an upgrade from BofA. The research firm issued a “Buy” rating for the video-streaming giant with a price target of $370 per share.

BofA analyst Jessica Reif Ehrlich believes Netflix, Inc. (NASDAQ:NFLX) holds a dominant position in the video-streaming market and has a strong potential to grow its subscriber base in overseas markets. In addition, Ehrlich acknowledged the company’s efforts to enhance monetization through a value-oriented ad-supported tier and policy changes surrounding password sharing.

Earlier this month, Netflix, Inc. (NASDAQ:NFLX) rolled out its basic ad-supported plan that carries a price tag of $6.99 a month. The latest tier includes 4 – 5 minutes of advertisements per hour.

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