Citigroup Inc. Reiterates “Neutral” Rating for Netflix (NFLX)
Netflix (NASDAQ:NFLX)‘s stock had its “neutral” rating reaffirmed by investment analysts at Citigroup Inc. in a note issued to investors on Tuesday. They currently have a $453.00 price target on the stock, up from their previous price target of $410.00. Citigroup Inc.’s price objective points to a potential upside of 0.23% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Credit Suisse reiterated a “neutral” rating on shares of Netflix in a research note on Tuesday. They now have a $430.00 price target on the stock, up previously from $369.00. Separately, analysts at Cantor Fitzgerald raised their price target on shares of Netflix from $425.00 to $500.00 in a research note on Tuesday. They now have a “buy” rating on the stock. Finally, analysts at Bank of America reiterated an “underperform” rating on shares of Netflix in a research note on Tuesday. They now have a $294.00 price target on the stock. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty have given a buy rating to the company. Netflix presently has a consensus rating of “Hold” and an average target price of $423.91.
Netflix (NASDAQ:NFLX) traded down 4.00% during mid-day trading on Tuesday, hitting $433.85. 4,305,562 shares of the company’s stock traded hands. Netflix has a one year low of $239.91 and a one year high of $475.87. The stock’s 50-day moving average is $440.5 and its 200-day moving average is $395.9. The company has a market cap of $26.005 billion and a price-to-earnings ratio of 169.84.
Netflix (NASDAQ:NFLX) last released its earnings data on Monday, July 21st. The company reported $1.15 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.14 by $0.01. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the company posted $0.49 earnings per share. The company’s quarterly revenue was up 25.4% on a year-over-year basis. Analysts expect that Netflix will post $4.12 EPS for the current fiscal year.
Netflix, Inc is an Internet television network with more than 44 million members in over 40 countries.
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