Piper Jaffray Maintains Overweight on Netflix (NFLX)

Piper Jaffray is out with its report today on Netflix NFLX, maintaining Overweight. In a note to clients, Piper Jaffray writes, "Netflix reported a solid Q1, but guided EPS below consensus for Q2. We believe the company is investing in long-term, sustainable growth by spending on streaming content and international expansion. While investors will have a mixed reaction to this strategy, in our view, laying a foundation for continued growth, while continuing to grow annual EPS >40% is a sound strategy. We believe Netflix is well positioned to maintain the lead it has over competitors and will continue to invest to widen this lead." Piper Jaffray maintains a $260 PT on NFLX. Shares of NFLX closed Monday at $251.67, down 0.22% from Thursday's close.