Netflix Coverage Initiated at Morgan Stanley (NFLX)
Equities research analysts at Morgan Stanley began coverage on shares of Netflix (NASDAQ:NFLX) in a research note issued to investors on Tuesday. The firm set an “overweight” rating and a $500.00 price target on the stock. Morgan Stanley’s price objective indicates a potential upside of 16.21% from the stock’s previous close.
A number of other firms have also recently commented on NFLX. Analysts at Evercore Partners upgraded shares of Netflix from an “equal weight” rating to an “overweight” rating in a research note on Monday, June 9th. They now have a $500.00 price target on the stock, up previously from $400.00. Separately, analysts at S&P Equity Research reiterated a “hold” rating on shares of Netflix in a research note on Friday, June 6th. Finally, analysts at Topeka Capital Markets raised their price target on shares of Netflix from $421.00 to $517.00 in a research note on Friday, June 6th. They now have a “buy” rating on the stock. Four analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $392.09.
Netflix (NASDAQ:NFLX) traded up 2.86% during mid-day trading on Tuesday, hitting $442.58. 2,133,407 shares of the company’s stock traded hands. Netflix has a one year low of $207.56 and a one year high of $458.00. The stock has a 50-day moving average of $378.5 and a 200-day moving average of $382.2. The company has a market cap of $26.528 billion and a price-to-earnings ratio of 161.69.
Netflix (NASDAQ:NFLX) last posted its quarterly earnings results 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. On average, analysts predict that Netflix will post $4.16 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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