Netflix Given New $350.00 Price Target at Lazard Capital Markets (NFLX)
Lazard Capital Markets boosted their price target on shares of Netflix (NASDAQ:NFLX) from $325.00 to $350.00 in a research note issued on Thursday, Stock Ratings Network.com reports. The firm currently has a “buy” rating on the stock. Lazard Capital Markets’ price target suggests a potential upside of 16.12% from the stock’s previous close.
Shares of Netflix (NASDAQ:NFLX) traded down 2.24% on Thursday, hitting $301.406. The stock had a trading volume of 3,135,546 shares. Netflix has a one year low of $53.05 and a one year high of $314.18. The stock’s 50-day moving average is $267.5 and its 200-day moving average is $223.4. The company has a market cap of $17.759 billion and a P/E ratio of 383.94. Netflix also saw some unusual options trading activity on Tuesday. Traders bought 67,643 call options on the company. This is an increase of approximately 105% compared to the typical volume of 33,012 call options.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Monday, July 22nd. The company reported $0.49 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.40 by $0.09. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the company posted $0.11 earnings per share. Netflix’s revenue was up 20.2% compared to the same quarter last year. Analysts expect that Netflix will post $1.49 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Morgan Stanley downgraded shares of Netflix (NASDAQ:NFLX) from an “overweight” rating to an “equal weight” rating in a research note to investors on Thursday. They now have a $300.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at BTIG Research downgraded shares of Netflix (NASDAQ:NFLX) from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday. They noted that the move was a valuation call.
Six research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $232.42.
Netflix, Inc (NASDAQ:NFLX), incorporated on August 29, 1997, is an Internet subscription service streaming television shows and movies.
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