Raymond James Financial Inc. Reiterates $120.00 Price Target for Netflix Inc. (NFLX)
Netflix Inc. (NASDAQ:NFLX) received a $120.00 price objective from stock analysts at Raymond James Financial Inc. in a research note issued to investors on Monday. The brokerage currently has a a “buy” rating on the Internet television network’s stock. Raymond James Financial Inc.’s target price indicates a potential upside of 16.13% from the stock’s current price.
A number of other research analysts have also weighed in on the company. Deutsche Bank AG assumed coverage on Netflix in a research note on Monday. They set a “sell” rating and a $90.00 price target on the stock. They noted that the move was a valuation call. FBR & Co reissued a “market perform” rating and set a $90.00 price target on shares of Netflix in a research note on Wednesday, October 5th. SunTrust Banks Inc. reissued a “neutral” rating and set a $100.00 price target on shares of Netflix in a research note on Wednesday, October 5th. Loop Capital assumed coverage on Netflix in a research note on Tuesday, October 4th. They set a “buy” rating and a $125.00 price target on the stock. Finally, Robert W. Baird reissued a “neutral” rating and set a $94.00 price target on shares of Netflix in a research note on Tuesday, October 4th. Eight research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have issued a buy rating to the company. Netflix has an average rating of “Hold” and an average target price of $110.31.
Netflix (NASDAQ:NFLX) traded down 2.71% on Monday, reaching $100.53. The company had a trading volume of 7,710,348 shares. The firm has a market capitalization of $43.10 billion, a price-to-earnings ratio of 314.16 and a beta of 1.14. The stock’s 50-day moving average price is $98.41 and its 200 day moving average price is $96.32. Netflix has a 52-week low of $79.95 and a 52-week high of $133.27.
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Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Monday, July 18th. The Internet television network reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.07. Netflix had a return on equity of 5.59% and a net margin of 1.85%. The company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the prior year, the company posted $0.06 EPS. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. On average, equities analysts anticipate that Netflix will post $0.28 earnings per share for the current fiscal year.
In related news, Director Richard N. Barton sold 1,400 shares of the firm’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $100.00, for a total transaction of $140,000.00. Following the transaction, the director now directly owns 16,262 shares of the company’s stock, valued at $1,626,200. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard N. Barton sold 2,800 shares of the firm’s stock in a transaction dated Thursday, October 6th. The stock was sold at an average price of $104.27, for a total transaction of $291,956.00. Following the transaction, the director now directly owns 15,254 shares in the company, valued at $1,590,534.58. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Gardner Lewis Asset Management L P purchased a new position in Netflix during the first quarter valued at approximately $597,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Netflix by 10.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,360 shares of the Internet television network’s stock worth $1,774,000 after buying an additional 1,686 shares during the last quarter. BB&T Securities LLC increased its stake in Netflix by 97.1% in the first quarter. BB&T Securities LLC now owns 10,991 shares of the Internet television network’s stock worth $1,123,000 after buying an additional 5,416 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in Netflix by 1.1% in the first quarter. Canada Pension Plan Investment Board now owns 46,963 shares of the Internet television network’s stock worth $4,801,000 after buying an additional 500 shares during the last quarter. Finally, Wexford Capital LP bought a new stake in Netflix during the first quarter worth $3,582,000. 78.43% of the stock is currently owned by hedge funds and other institutional investors.
Netflix, Inc (Netflix) is a provider of Internet television network. The Company’s members can watch original series, documentaries and feature films in Internet-connected screen. The Company has three operating segments: Domestic streaming, International streaming and Domestic DVD. The Domestic and International streaming segments derive revenues from monthly membership fees for services consisting of streaming content.
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