Netflix Inc. (NFLX) Price Target Increased to $115.00 by Analysts at SunTrust Banks Inc.
Netflix Inc. (NASDAQ:NFLX) had its price objective boosted by SunTrust Banks Inc. from $110.00 to $115.00 in a research report issued on Tuesday. The firm presently has a “hold” rating on the Internet television network’s stock. SunTrust Banks Inc.’s target price suggests a potential upside of 15.23% from the stock’s previous close.
Several other equities research analysts have also issued reports on NFLX. Jefferies Group reissued a “hold” rating and set a $120.00 price objective on shares of Netflix in a research note on Monday, July 11th. Cowen and Company reissued an “outperform” rating and set a $110.00 price objective on shares of Netflix in a research note on Wednesday, October 12th. Cantor Fitzgerald reissued a “buy” rating on shares of Netflix in a research note on Sunday, August 14th. FBR & Co reissued a “market perform” rating and set a $90.00 price objective (down previously from $104.00) on shares of Netflix in a research note on Sunday, July 17th. Finally, Piper Jaffray Cos. reissued an “overweight” rating and set a $122.00 price objective on shares of Netflix in a research note on Tuesday, July 12th. Seven equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-eight have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $115.35.
Shares of Netflix (NASDAQ:NFLX) opened at 99.80 on Tuesday. The company has a market cap of $42.79 billion, a price-to-earnings ratio of 311.88 and a beta of 1.14. Netflix has a 52-week low of $79.95 and a 52-week high of $133.27. The firm has a 50 day moving average price of $98.99 and a 200-day moving average price of $96.28.
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Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Monday, October 17th. The Internet television network reported $0.12 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 earned $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same period last year, the company earned $0.07 earnings per share. The business’s revenue for the quarter was up 31.7% on a year-over-year basis. Equities research analysts anticipate that Netflix will post $0.28 earnings per share for the current year.
In other Netflix news, CEO Reed Hastings sold 116,431 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $10,081,760.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard N. Barton sold 2,800 shares of the company’s stock in a transaction dated Thursday, October 6th. The shares were sold at an average price of $104.27, for a total transaction of $291,956.00. Following the completion of the sale, the director now directly owns 15,254 shares of the company’s stock, valued at $1,590,534.58. The disclosure for this sale can be found here. Company insiders own 4.90% of the company’s stock.
Large investors have recently modified their holdings of the stock. National Pension Service increased its stake in shares of 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 increased its position 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 position in shares of Netflix during the third quarter worth $618,000. Capstone Asset Management Co. increased its position 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. Finally, Grassi Investment Management acquired a new position in shares of 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.
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