How Has Netflix Stock Performed This Year?

The FAANG stock has been bitten by two ugly post-earnings plunges

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We last covered Netflix Inc (NASDAQ:NFLX) back in October, when the streaming giant was ripping higher after a stellar earnings report. Heading into the final month of 2022, how has the FAANG stock fared this year?

Thanks to two nasty post-earnings bear gaps in January and April, NFLX is down 49% year-over-year. However, the shares have tacked on 33.2% this quarter alone, with their rising 40-day moving average stepping up as support in the last two months. Keep an eye on $324 in the next month, as its double the stock's May 12 five-year low of $162.71. 

NFLX Stock Chart

Analysts have turned sour on a once-beloved stock--18 of the 32 brokerages covering NFLX rate it a "hold" or "strong sell." The 12-month consensus price target of $287.47, meanwhile, is a 10% premium to the equity's current perch at $318.38. If Netflix can get back on track, there is upgrade/price-target potential there. 

Now might be the perfect time for options players to speculate on the stock's next move higher. NFLX's Schaeffer's Volatility Index (SVI) of 47% sits in the 18th percentile of its annual range. Plus, its Schaeffer's Volatility Scorecard (SVS) checks in at 94 out of a possible 100. This means that not only are options traders pricing in relatively low volatility expectations at the moment, Netflix tends to exceed said expectations -- a good thing for buyers. 

 

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