Credit Suisse Group AG Cuts Netflix Inc. (NFLX) Price Target to $130.00
Netflix Inc. (NASDAQ:NFLX) had its price objective reduced by investment analysts at Credit Suisse Group AG from $132.00 to $130.00 in a research report issued on Tuesday. The brokerage presently has a “neutral” rating on the Internet television network’s stock. Credit Suisse Group AG’s price objective suggests a potential upside of 30.26% from the stock’s previous close.
A number of other equities analysts have also recently issued reports on the company. Deutsche Bank AG raised their target price on Netflix from $90.00 to $92.00 and gave the stock a “sell” rating in a report on Tuesday. Robert W. Baird raised their price target on Netflix from $94.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday. Morgan Stanley raised their price target on Netflix from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday. Citigroup Inc. reaffirmed a “hold” rating and set a $120.00 price target (up previously from $92.00) on shares of Netflix in a research report on Tuesday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Netflix in a research report on Tuesday. Seven research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $115.35.
Shares of Netflix (NASDAQ:NFLX) opened at 99.80 on Tuesday. The firm’s 50-day moving average price is $98.99 and its 200-day moving average price is $96.28. The company has a market cap of $42.79 billion, a PE ratio of 311.88 and a beta of 1.14. Netflix has a 12 month low of $79.95 and a 12 month high of $133.27.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/18/credit-suisse-group-ag-cuts-netflix-inc-nflx-price-target-to-130-00.html
Netflix (NASDAQ:NFLX) last issued its earnings results on Monday, October 17th. The Internet television network reported $0.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.06. Netflix had a return on equity of 5.59% and a net margin of 1.85%. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter last year, the business earned $0.07 earnings per share. The company’s revenue was up 31.7% compared to the same quarter last year. Equities analysts predict that Netflix will post $0.28 EPS for the current fiscal year.
In other news, Director Jay C. Hoag acquired 300,000 shares of the business’s stock in a transaction on Tuesday, August 9th. The stock was bought at an average price of $94.31 per share, with a total value of $28,293,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jay C. Hoag acquired 600,000 shares of the business’s stock in a transaction on Monday, July 25th. The stock was purchased at an average cost of $86.43 per share, with a total value of $51,858,000.00. The disclosure for this purchase can be found here. Corporate insiders own 4.90% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. National Pension Service boosted its position in Netflix by 8.7% in the third quarter. National Pension Service now owns 272,049 shares of the Internet television network’s stock worth $26,810,000 after buying an additional 21,790 shares during the last quarter. Highland Capital Management LLC boosted its position in 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 during the last quarter. Hollencrest Securities LLC purchased a new position in Netflix during the third quarter worth $618,000. Capstone Asset Management Co. boosted its position in 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 during the last quarter. Finally, Grassi Investment Management purchased a new position in Netflix during the third quarter worth $207,000. 78.41% of the stock is owned by institutional investors.
Netflix Company Profile
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.
Receive News & Ratings for Netflix Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Netflix Inc. and related companies with MarketBeat.com's FREE daily email newsletter.