Netflix Inc. (NFLX) Price Target Raised to $115.00
Netflix Inc. (NASDAQ:NFLX) had its price target increased by BMO Capital Markets to $115.00 in a research report issued on Tuesday. BMO Capital Markets’ price target suggests a potential upside of 15.23% from the stock’s previous close.
A number of other research analysts have also recently issued reports on NFLX. Nomura reiterated a “buy” rating and issued a $115.00 target price (down previously from $125.00) on shares of Netflix in a research note on Monday, June 20th. Zacks Investment Research upgraded shares of Netflix from a “hold” rating to a “buy” rating and set a $105.00 target price for the company in a research note on Tuesday, June 21st. Sanford C. Bernstein reiterated an “underperform” rating and issued a $62.00 target price on shares of Netflix in a research note on Wednesday, June 22nd. Cantor Fitzgerald reiterated a “buy” rating and issued a $140.00 target price on shares of Netflix in a research note on Thursday, June 23rd. Finally, Pacific Crest reiterated a “buy” rating and issued a $130.00 target price on shares of Netflix in a research note on Wednesday, June 22nd. Eight analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $110.70.
Shares of Netflix (NASDAQ:NFLX) opened at 99.80 on Tuesday. The stock’s 50 day moving average price is $98.99 and its 200 day moving average price is $96.28. Netflix has a 1-year low of $79.95 and a 1-year high of $133.27. The company has a market capitalization of $42.79 billion, a price-to-earnings ratio of 311.88 and a beta of 1.14.
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Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Monday, October 17th. The Internet television network reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. The firm earned $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The company’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.07 earnings per share. Analysts expect that Netflix will post $0.28 EPS for the current year.
In other news, Director Richard N. Barton sold 1,400 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $93.58, for a total value of $131,012.00. Following the sale, the director now owns 15,562 shares of the company’s stock, valued at $1,456,291.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jay C. Hoag purchased 600,000 shares of the stock in a transaction dated Monday, July 25th. The stock was acquired at an average cost of $86.43 per share, for a total transaction of $51,858,000.00. The disclosure for this purchase can be found here. 4.90% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the stock. Adage Capital Partners GP L.L.C. boosted its position in shares of Netflix by 69.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 645,960 shares of the Internet television network’s stock valued at $66,036,000 after buying an additional 265,678 shares in the last quarter. Scopia Capital Management LP boosted its position in shares of Netflix by 55.2% in the first quarter. Scopia Capital Management LP now owns 1,846,398 shares of the Internet television network’s stock valued at $188,757,000 after buying an additional 656,585 shares in the last quarter. Natixis purchased a new position in shares of Netflix during the first quarter valued at approximately $47,023,000. Private Capital Management Inc. purchased a new position in shares of Netflix during the second quarter valued at approximately $631,000. Finally, Advisory Services Network LLC boosted its position in shares of Netflix by 15.0% in the second quarter. Advisory Services Network LLC now owns 5,415 shares of the Internet television network’s stock valued at $495,000 after buying an additional 706 shares in the last quarter. 78.41% of the stock is currently 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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