Netflix Inc. (NFLX) Price Target Increased to $120.00 by Analysts at Citigroup Inc.
Netflix Inc. (NASDAQ:NFLX) had its price target increased by Citigroup Inc. from $92.00 to $120.00 in a report released on Tuesday. The brokerage currently has a “neutral” rating on the Internet television network’s stock. Citigroup Inc.’s price objective suggests a potential upside of 1.02% from the company’s previous close.
A number of other research firms have also weighed in on NFLX. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $116.00 price objective (down previously from $125.00) on shares of Netflix in a research report on Tuesday, July 19th. MKM Partners cut their price objective on shares of Netflix from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, July 20th. Vetr raised shares of Netflix from a “hold” rating to a “buy” rating and set a $103.71 price objective for the company in a research report on Thursday, September 8th. BMO Capital Markets reissued a “market perform” rating and issued a $85.00 price objective on shares of Netflix in a research report on Thursday, July 28th. Finally, Jefferies Group reissued an “underperform” rating and issued a $76.00 price objective on shares of Netflix in a research report on Friday, September 23rd. Eight analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-eight have assigned a buy rating to the company’s stock. Netflix currently has an average rating of “Hold” and a consensus price target of $115.93.
Shares of Netflix (NASDAQ:NFLX) traded up 19.03% during trading on Tuesday, reaching $118.79. 42,168,221 shares of the company’s stock traded hands. The stock has a 50-day moving average of $99.60 and a 200-day moving average of $96.38. Netflix has a 1-year low of $79.95 and a 1-year high of $133.27. The company has a market capitalization of $50.93 billion, a price-to-earnings ratio of 371.22 and a beta of 1.14.
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Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Monday, October 17th. The Internet television network reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. The business earned $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The company’s revenue was up 31.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.07 earnings per share. On average, equities analysts predict that Netflix will post $0.28 EPS for the current fiscal year.
In other news, Director Jay C. Hoag bought 600,000 shares of Netflix stock in a transaction dated Monday, July 25th. The shares were bought at an average price of $86.43 per share, for a total transaction of $51,858,000.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Reed Hastings sold 116,431 shares of the business’s stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $86.59, for a total transaction of $10,081,760.29. Following the completion of the sale, the chief executive officer now 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 currently owned by insiders.
Several large investors have recently modified their holdings of the stock. Appropriate Balance Financial Services Inc. increased its stake in shares of Netflix by 7.0% in the third quarter. Appropriate Balance Financial Services Inc. now owns 5,481 shares of the Internet television network’s stock valued at $540,000 after buying an additional 360 shares in the last quarter. Puplava Financial Services Inc. purchased a new stake in shares of Netflix during the third quarter valued at approximately $276,000. First New York Securities LLC NY purchased a new stake in shares of Netflix during the third quarter valued at approximately $212,000. 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 valued at $26,810,000 after buying an additional 21,790 shares in the last quarter. Finally, 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 valued at $1,020,000 after buying an additional 7,100 shares in the last quarter. 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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