Stock Traders Buy Large Volume of Netflix Put Options (NFLX)
Shares of Netflix (NASDAQ:NFLX) were the target of some unusual options trading on Wednesday. Traders bought 86,250 put options on the stock, Analyst Ratings Network.com reports. This is an increase of 102% compared to the average daily volume of 42,769 put options.
A number of research firms have recently commented on NFLX. Analysts at Topeka Capital Markets initiated coverage on shares of Netflix in a research note on Tuesday. They set a “buy” rating and a $421.00 price target on the stock. Separately, analysts at Cantor Fitzgerald upgraded shares of Netflix from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. They now have a $425.00 price target on the stock, up previously from $405.00. Finally, analysts at Raymond James upgraded shares of Netflix from a “market perform” rating to an “outperform” rating in a research note on Friday, May 16th. They now have a $450.00 price target on the stock. Four equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and seventeen have issued a buy rating to the company. Netflix has a consensus rating of “Hold” and an average price target of $379.28.
Shares of Netflix (NASDAQ:NFLX) traded up 5.09% on Wednesday, hitting $390.60. 5,704,771 shares of the company’s stock traded hands. Netflix has a 52-week low of $205.75 and a 52-week high of $458.00. The stock has a 50-day moving average of $341.3 and a 200-day moving average of $372.4. The company has a market cap of $23.413 billion and a price-to-earnings ratio of 139.67.
Netflix (NASDAQ:NFLX) last announced its earnings results on Monday, April 21st. The company reported $0.86 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.31 earnings per share. The company’s revenue for the quarter was up 24.0% on a year-over-year basis. On average, analysts predict that Netflix will post $4.20 earnings per share 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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