Netflix Upgraded by Raymond James to “Outperform” (NFLX)
Netflix (NASDAQ:NFLX) was upgraded by Raymond James from a “market perform” rating to an “outperform” rating in a research note issued on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $450.00 target price on the stock, up from their previous target price of $356.00. Raymond James’ price target suggests a potential upside of 20.68% from the stock’s previous close.
The analysts wrote, “can reach ~55 million long-term domestic subs and 60 million plus international subs.”Improving operating margins — “Domestic streaming margins increased 460 bp y/y (driven by lower marketing and content cost leverage,” said the analyst.Price increases “will enable Netflix to continue to invest in higher quality content and thus attract more users.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Cantor Fitzgerald upgraded shares of Netflix from a “hold” rating to a “buy” rating in a research note on Tuesday. Separately, analysts at Cowen and Company reiterated a “market perform” rating on shares of Netflix in a research note on Tuesday. Finally, analysts at Credit Suisse reiterated a “neutral” rating on shares of Netflix in a research note on Tuesday. They now have a $369.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and seventeen have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $370.10.
Netflix (NASDAQ:NFLX) traded up 7.00% on Tuesday, hitting $372.90. The stock had a trading volume of 9,243,197 shares. Netflix has a 52-week low of $204.02 and a 52-week high of $458.00. The stock’s 50-day moving average is $385.8 and its 200-day moving average is $369.5. The company has a market cap of $22.302 billion and a P/E ratio of 188.27. Netflix also saw unusually large options trading on Tuesday. Stock investors purchased 89,773 put options on the stock. This is an increase of approximately 171% compared to the typical daily volume of 33,164 put options.
Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Monday, April 21st. The company reported $0.86 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.83 by $0.03. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the prior year, the company posted $0.31 earnings per share. The company’s quarterly revenue was up 24.0% on a year-over-year basis. Analysts expect that Netflix will post $4.10 EPS for the current fiscal year.
Netflix, Inc is an Internet television network with more than 33 million members in over 40 countries.
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