Netflix Inc. (NFLX) Given a $45.00 Price Target at Wedbush
Netflix Inc. (NASDAQ:NFLX) has been given a $45.00 target price by equities researchers at Wedbush in a research report issued on Thursday. The brokerage currently has a a “sell” rating on the Internet television network’s stock. Wedbush’s price target would suggest a potential downside of 54.76% from the stock’s previous close.
A number of other equities research analysts have also commented on the company. Cowen and Company restated an “outperform” rating and set a $110.00 price objective on shares of Netflix in a research report on Wednesday. Jefferies Group restated an “underperform” rating and set a $76.00 price objective on shares of Netflix in a research report on Wednesday. Needham & Company LLC restated a “hold” rating on shares of Netflix in a research report on Wednesday. Vetr upgraded Netflix from a “hold” rating to a “buy” rating and set a $106.17 price objective for the company in a research report on Tuesday. Finally, Raymond James Financial Inc. set a $120.00 price objective on Netflix and gave the stock a “buy” rating in a research report on Monday. Eight research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $110.32.
Shares of Netflix (NASDAQ:NFLX) traded up 0.51% during mid-day trading on Thursday, reaching $100.01. 6,151,975 shares of the company’s stock traded hands. The company has a market capitalization of $42.88 billion, a P/E ratio of 312.53 and a beta of 1.14. The firm has a 50-day moving average price of $98.66 and a 200-day moving average price of $96.37. Netflix has a 1-year low of $79.95 and a 1-year high of $133.27.
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Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Monday, July 18th. The Internet television network reported $0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.07. Netflix had a return on equity of 5.59% and a net margin of 1.85%. The business earned $2.11 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same quarter last year, the company posted $0.06 EPS. Netflix’s revenue for the quarter was up 19.5% on a year-over-year basis. On average, equities research analysts forecast that Netflix will post $0.28 earnings per share for the current fiscal year.
In other Netflix news, Director Jay C. Hoag bought 600,000 shares of Netflix stock in a transaction on Monday, July 25th. The shares were purchased at an average price of $86.43 per share, with a total value of $51,858,000.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Reed Hastings sold 116,431 shares of the firm’s stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $86.59, for a total value of $10,081,760.29. Following the completion of the sale, the chief executive officer now directly owns 116,431 shares in the company, valued at approximately $10,081,760.29. The disclosure for this sale can be found here. 4.90% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of NFLX. Highland Capital Management LLC increased its stake in shares of Netflix by 218.5% in the third quarter. Highland Capital Management LLC now owns 10,350 shares of the Internet television network’s stock worth $1,020,000 after buying an additional 7,100 shares in the last quarter. Hollencrest Securities LLC acquired a new stake in shares of Netflix during the third quarter worth $618,000. Capstone Asset Management Co. increased its stake in shares of Netflix by 3.3% in the third quarter. Capstone Asset Management Co. now owns 29,406 shares of the Internet television network’s stock worth $2,898,000 after buying an additional 938 shares in the last quarter. Grassi Investment Management acquired a new stake in shares of Netflix during the third quarter worth $207,000. Finally, Fisher Asset Management LLC acquired a new stake in shares of Netflix during the third quarter worth $229,000. 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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