Netflix Doing OK Despite Price Hikes, Analyst Has Reservations About OpenTable (NFLX, OPEN, AMZN, PCLN, LNKD, BIDU)

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Shares of Netflix (NFLX), the provider of streaming online movie services and DVD rentals by mail, are up 3% and soaring to new all-time highs today despite raising prices for its services, a move some fear will create customer backlash. Backlash or not, the Dotcom Stocks Index is soaring 2.9% today.

Analysts are mixed on the Netflix decision to raise prices. Goldman Sachs reiterated a “buy” rating and $330 price target on the stock, saying a 5% jump in streaming only subscribers could boost revenue per subscriber to $11.96, ensuring Netflix could withstand an 18% churn rate. Piper Jaffray reiterated an “overweight” rating on the stock while raising its price target to $330 from $305, saying average revenue per subscriber could rise to $12 per month in September from $11.27 per month in the first half of the year.

Jefferies and Lazard Capital Markets don’t seem impressed as both reiterated “hold” ratings on the stock. Jefferies has a $240 price target on Netflix, which is well below where the shares currently trade. BMO Capital Markets reiterated a tepid “market perform” rating on the stock, but did raise its price target to $280 from $210, but that is also below where Netflix trades today.

Speaking of less-than-stellar analyst commentary, shares of online restaurant reservations provider Opentable (OPEN) are down fractionally after Benchmark pared its second-quarter revenue estimate on the company, citing increased competition and weakness in OpenTable’s deals product, Spotlight. The research firm reiterated a “hold” rating and $90 price target on the shares, which is above where OpenTable currently trades.

Shares of Amazon.com (AMZN) and Priceline.com (PCLN) are both higher by 2% while LinkedIn (LNKD) is soaring 6%. Baidu (BIDU), China’s largest provider of Internet search services, is up 3%.

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Tags: AMZN, BIDU, LNKD, NFLX, OPEN, PCLN