Market Update: Netflix Inc (NASDAQ:NFLX) – Cramer: Damage to IBM, Netflix hard to reverse

[at CNBC] – Jim Cramer analyzed why IBM and Netflix were put through the meat grinder this week. Can the ruins be rebuilt? Read more on this. Netflix, Inc. (NFLX) , valued at $40.39B, opened at $99.49. Looking at today’s trading action, the company’s one day range from $94.20 to $101.37 and has traded between $78.89 and $133.27 over the past year. NFLX shares are currently priced at 401.48x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 13.29x earnings multiple for the same period. According to a consensus of 35 analysts, the earnings estimate of $0.05 per share would be $0.01 worse than the year-ago quarter and a $0.00 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $0.27 would be a $0.01 setback when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $2.12 Billion. If reported, that would be a 29.27% increase over the year-ago quarter. Recently, Atlantic Equities upgraded NFLX from Neutral to Overweight (Apr 1, 2016). Previously, FBR Capital downgraded NFLX from Outperform to Mkt Perform. The average price target for NFLX shares by the analysts covering it is $123.08, which is 23.71% above where the stock opened. See more in (NASDAQ:NFLX) Similar Articles: Stock Update (NASDAQ:NFLX): How to Trade FANG Stocks as Netflix Reports Earnings — Plus Jim Cramer’s Take Company Update: Netflix Inc (NASDAQ:NFLX) – Netflix Didn’t Violate Net Neutrality Rules, Says FCC (NFLX, VZ) Stock Update: Netflix Inc (NASDAQ:NFLX) – Netflix Caps Video Streams on AT&T, Verizon Customers (NFLX, T)