FBR & Co Raises Netflix Inc. (NFLX) Price Target to $100.00
Netflix Inc. (NASDAQ:NFLX) had its price objective increased by research analysts at FBR & Co from $90.00 to $100.00 in a research note issued on Tuesday. The firm presently has a “market perform” rating on the Internet television network’s stock. FBR & Co’s price objective would indicate a potential upside of 0.20% from the company’s previous close.
Other equities research analysts have also issued research reports about the stock. BMO Capital Markets upped their price objective on shares of Netflix to $115.00 in a report on Tuesday. Nomura upped their price objective on shares of Netflix to $130.00 in a report on Tuesday. Zacks Investment Research raised shares of Netflix from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a report on Tuesday, June 21st. Pacific Crest reissued a “buy” rating and issued a $130.00 price objective on shares of Netflix in a report on Wednesday, June 22nd. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $140.00 price objective on shares of Netflix in a report on Thursday, June 23rd. Seven investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-eight have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $115.89.
Netflix (NASDAQ:NFLX) traded up 19.08% on Tuesday, reaching $118.84. 24,007,176 shares of the company’s stock were exchanged. Netflix has a one year low of $79.95 and a one year high of $133.27. The stock has a market cap of $50.95 billion, a price-to-earnings ratio of 371.38 and a beta of 1.14. The firm has a 50 day moving average of $98.99 and a 200-day moving average of $96.28.
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Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Monday, October 17th. The Internet television network reported $0.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.06. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The firm earned $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the prior year, the firm posted $0.07 earnings per share. Netflix’s quarterly revenue was up 31.7% on a year-over-year basis. Equities research analysts forecast that Netflix will post $0.28 EPS for the current fiscal year.
In related news, Director Richard N. Barton sold 1,400 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $93.58, for a total transaction of $131,012.00. Following the completion of the sale, the director now owns 15,562 shares in the company, valued at approximately $1,456,291.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Reed Hastings sold 116,431 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now owns 116,431 shares of the company’s stock, valued at approximately $10,081,760.29. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Fulton Bank N.A. increased its stake in shares of Netflix by 0.3% in the third quarter. Fulton Bank N.A. now owns 4,450 shares of the Internet television network’s stock valued at $439,000 after buying an additional 12 shares during the last quarter. Concorde Asset Management LLC increased its stake in shares of Netflix by 0.5% in the second quarter. Concorde Asset Management LLC now owns 4,205 shares of the Internet television network’s stock worth $385,000 after buying an additional 20 shares in the last quarter. Coconut Grove Bank increased its stake in shares of Netflix by 1.7% in the second quarter. Coconut Grove Bank now owns 1,526 shares of the Internet television network’s stock worth $140,000 after buying an additional 26 shares in the last quarter. Conning Inc. increased its stake in shares of Netflix by 0.3% in the second quarter. Conning Inc. now owns 10,915 shares of the Internet television network’s stock worth $999,000 after buying an additional 30 shares in the last quarter. Finally, Mycio Wealth Partners LLC increased its stake in shares of Netflix by 1.5% in the second quarter. Mycio Wealth Partners LLC now owns 2,348 shares of the Internet television network’s stock worth $215,000 after buying an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 78.41% of the company’s stock.
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.
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