Netflix Price Target Lowered to $405.00 at Nomura (NFLX)
Investment analysts at Nomura dropped their price target on shares of Netflix (NASDAQ:NFLX) from $410.00 to $405.00 in a note issued to investors on Wednesday, AmericanBankingNews.com reports. Nomura’s target price would indicate a potential upside of 16.67% from the company’s current price.
Netflix (NASDAQ:NFLX) traded up 0.16% during mid-day trading on Wednesday, hitting $347.70. 1,346,316 shares of the company’s stock traded hands. Netflix has a one year low of $205.75 and a one year high of $458.00. The stock’s 50-day moving average is $342.3 and its 200-day moving average is $371.1. The company has a market cap of $20.841 billion and a price-to-earnings ratio of 130.45. Netflix also was the target of a large increase in short interest in April. As of April 30th, there was short interest totalling 5,440,205 shares, an increase of 32.5% from the April 15th total of 4,105,862 shares. Based on an average daily volume of 5,126,766 shares, the short-interest ratio is currently 1.1 days. Approximately 9.5% of the company’s stock are short sold.
Netflix (NASDAQ:NFLX) last released its earnings data on Monday, April 21st. The company reported $0.86 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.31 earnings per share. Netflix’s revenue was up 24.0% compared to the same quarter last year. Analysts expect that Netflix will post $4.20 EPS for the current fiscal year.
In other Netflix news, Insider Neil Hunt unloaded 5,000 shares of Netflix stock on the open market in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $324.05, for a total transaction of $1,620,250.00. Following the completion of the sale, the insider now directly owns 80,786 shares in the company, valued at approximately $26,178,703. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of other analysts have also recently weighed in on NFLX. Analysts at Cantor Fitzgerald upgraded shares of Netflix from a “hold” rating to a “buy” rating in a research note on Thursday, May 8th. They now have a $425.00 price target on the stock, up previously from $405.00. Separately, analysts at Raymond James upgraded shares of Netflix from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 8th. They now have a $450.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and seventeen have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $380.97.
Netflix, Inc is an Internet television network with more than 33 million members in over 40 countries.
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