Nomura Initiates Coverage on Netflix (NFLX)
Equities research analysts at Nomura assumed coverage on shares of Netflix (NASDAQ:NFLX) in a research note issued to investors on Wednesday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating and a $360.00 price target on the stock. Nomura’s price objective indicates a potential upside of 6.52% from the stock’s previous close.
The analysts wrote, “Netflix benefits from latent pricing power, in our view, but a price raise is unlikely. As such, we await a more attractive entry point for the stock,” the report noted. “Valuation Methodology: Sum of 3 parts; domestic, DVD, int’l; sum-of-the-parts using 2015E EV/EBITDA target of 20x on domestic streaming.”
A number of other analysts have also recently weighed in on NFLX. Analysts at FBR Capital Markets initiated coverage on shares of Netflix in a research note to investors on Tuesday. They set an “outperform” rating on the stock. Separately, analysts at FBN Securities initiated coverage on shares of Netflix in a research note to investors on Tuesday. They set an “outperform” rating on the stock. Finally, analysts at TheStreet reiterated a “hold” rating on shares of Netflix in a research note to investors on Friday, January 10th. Six equities research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $331.49.
Shares of Netflix (NASDAQ:NFLX) traded down 4.98% on Wednesday, hitting $321.122. The stock had a trading volume of 2,838,521 shares. Netflix has a 1-year low of $95.75 and a 1-year high of $389.16. The stock’s 50-day moving average is $361.2 and its 200-day moving average is $309.4. The company has a market cap of $19.029 billion and a P/E ratio of 282.81.
Netflix, Inc (NASDAQ:NFLX), incorporated on August 29, 1997, is an Internet subscription service streaming television shows and movies.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.