Netflix Inc. (NFLX) Price Target Raised to $130.00
Netflix Inc. (NASDAQ:NFLX) had its price target upped by research analysts at Morgan Stanley from $110.00 to $130.00 in a note issued to investors on Tuesday. The firm currently has an “overweight” rating on the Internet television network’s stock. Morgan Stanley’s target price points to a potential upside of 30.26% from the stock’s previous close.
NFLX has been the topic of a number of other reports. Vetr raised Netflix from a “hold” rating to a “buy” rating and set a $102.90 target price on the stock in a research note on Tuesday, September 20th. Cantor Fitzgerald reissued a “buy” rating on shares of Netflix in a research note on Friday, September 9th. FBR & Co reissued a “market perform” rating and issued a $90.00 target price on shares of Netflix in a research note on Thursday, September 15th. Wedbush set a $45.00 target price on Netflix and gave the stock a “sell” rating in a research note on Thursday, October 13th. Finally, RBC Capital Markets reissued an “outperform” rating and issued a $130.00 target price on shares of Netflix in a research note on Monday, August 29th. Seven 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 company. Netflix has a consensus rating of “Hold” and an average price target of $115.35.
Shares of Netflix (NASDAQ:NFLX) opened at 99.80 on Tuesday. The company has a 50-day moving average price of $98.99 and a 200-day moving average price of $96.28. Netflix has a 52 week low of $79.95 and a 52 week high of $133.27. The company has a market capitalization of $42.79 billion, a PE ratio of 311.88 and a beta of 1.14.
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Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Monday, October 17th. The Internet television network reported $0.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.06. The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.28 billion. Netflix had a return on equity of 5.59% and a net margin of 1.85%. The firm’s revenue for the quarter was up 31.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.07 earnings per share. Analysts predict that Netflix will post $0.28 earnings per share for the current year.
In other news, CEO Reed Hastings sold 116,431 shares of Netflix stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jay C. Hoag purchased 600,000 shares of the stock in a transaction dated Monday, July 25th. The shares were acquired at an average price of $86.43 per share, with a total value of $51,858,000.00. The disclosure for this purchase can be found here. Insiders own 4.90% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Cornerstone Advisors Inc. boosted its position in shares of Netflix by 25.6% in the second quarter. Cornerstone Advisors Inc. now owns 1,118 shares of the Internet television network’s stock worth $102,000 after buying an additional 228 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in shares of Netflix during the second quarter worth about $124,000. Quadrant Capital Group LLC boosted its position in shares of Netflix by 15.1% in the second quarter. Quadrant Capital Group LLC now owns 1,475 shares of the Internet television network’s stock worth $126,000 after buying an additional 194 shares in the last quarter. Coconut Grove Bank boosted its position 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. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Netflix by 15.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,690 shares of the Internet television network’s stock worth $155,000 after buying an additional 224 shares in the last quarter. Hedge funds and other institutional investors own 78.41% of the company’s stock.
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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