Netflix Price Target Raised to $340.00 at UBS AG (NFLX)
Equities researchers at UBS AG increased their price target on shares of Netflix (NASDAQ:NFLX) from $290.00 to $340.00 in a research report issued on Monday, AnalystRatings.Net reports. UBS AG’s price objective suggests a potential upside of 13.01% from the company’s current price.
The analysts wrote, “Sentiment in shares has been positive given increasing content leverage toward Netflix through originals and recent deals (Weinstein Pay TV deal), increased optimism around a price increase in 2014 or 2015, and recent partnerships with MSOs in the UK (Virgin Media) and Sweden (Com Hem) to integrate the Netflix app into the cable user interface on TiVo set-top boxes.” The analyst noted expected strong 3Q US streaming net adds with the increase of subscriber momentum continuing into 2014. J.P. Morgan also saw Netflix’s huge content selection appealing to a wider audience and raised 2015 US streaming subscriber, revenue and EBITDA estimates. J.P. Morgan reported positive estimates for the third quarter with US streaming subs as the primary focus. The analyst models US streaming subs of $31M above guidance of $30.5-31.3M and 3Q revenue of $1.106B ahead of consensus of $1.099B. Anmuth stated US and international streaming revenue at $878.2M (previous guidance of $863-885M), and GAAP ESP estimate if $0.42 (previous guidance of $0.30-0.56). J.P. Morgan commented, “Note that the company no longer provides subs and revenue guidance for the domestic DVD segment, which we expect to drive $227.5M in revenue.” Anmuth conclude that Netflix “benefits from improving content, mobile accessibility, and positive seasonality.”
Netflix (NASDAQ:NFLX) traded up 5.51% on Monday, hitting $317.43. The stock had a trading volume of 3,377,116 shares. Netflix has a one year low of $57.40 and a one year high of $334.50. The stock’s 50-day moving average is $302.2 and its 200-day moving average is $242.9. The company has a market cap of $18.704 billion and a P/E ratio of 374.66.
Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Monday, July 22nd. The company reported $0.49 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.11 earnings per share. The company’s quarterly revenue was up 20.2% on a year-over-year basis. Analysts expect that Netflix will post $1.51 EPS for the current fiscal year.
NFLX has been the subject of a number of other recent research reports. Analysts at Brean Capital reiterated a “positive” rating on shares of Netflix in a research note to investors on Monday. Separately, analysts at JPMorgan Chase & Co. set a $340.00 price target on shares of Netflix in a research note to investors on Monday. Finally, analysts at Needham & Company initiated coverage on shares of Netflix in a research note to investors on Thursday. They set a “buy” rating and a $425.00 price target on the stock. Six investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $246.01.
In other Netflix news, Director Leslie J. Kilgore sold 2,945 shares of Netflix stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $325.00, for a total transaction of $957,125.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Netflix, Inc (NASDAQ:NFLX), incorporated on August 29, 1997, is an Internet subscription service streaming television shows and movies.
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