Netflix Inc. (NFLX) PT Raised to $84.00
Netflix Inc. (NASDAQ:NFLX) had its price target boosted by equities researchers at Axiom Securities from $80.00 to $84.00 in a research note issued on Tuesday. The firm presently has a “sell” rating on the Internet television network’s stock. Axiom Securities’ target price suggests a potential downside of 15.83% from the stock’s previous close.
Several other analysts have also recently weighed in on the stock. Jefferies Group reissued a “hold” rating and issued a $120.00 price target on shares of Netflix in a research note on Monday, July 11th. Cowen and Company reaffirmed an “outperform” rating and set a $110.00 price objective on shares of Netflix in a research report on Wednesday, October 12th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Netflix in a research report on Sunday, August 14th. FBR & Co reaffirmed a “market perform” rating and set a $90.00 price objective (down previously from $104.00) on shares of Netflix in a research report on Sunday, July 17th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $122.00 price objective on shares of Netflix in a research report on Tuesday, July 12th. Seven equities research 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 stock presently has an average rating of “Hold” and an average target price of $115.76.
Netflix (NASDAQ:NFLX) traded up 19.4761% during trading on Tuesday, reaching $119.2372. 29,700,432 shares of the company’s stock traded hands. Netflix has a 12-month low of $79.95 and a 12-month high of $133.27. The company has a 50 day moving average price of $98.99 and a 200-day moving average price of $96.28. The company has a market cap of $51.12 billion, a PE ratio of 372.6162 and a beta of 1.14.
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Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Monday, October 17th. The Internet television network reported $0.12 earnings per share for the quarter, beating the 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 business earned $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the prior year, the company posted $0.07 EPS. The business’s revenue for the quarter was up 31.7% on a year-over-year basis. On average, equities research analysts forecast that Netflix will post $0.28 EPS for the current fiscal year.
In related news, CEO Reed Hastings sold 116,431 shares of the company’s stock in a transaction 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 directly owns 116,431 shares of the company’s stock, valued at $10,081,760.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard N. Barton sold 1,400 shares of the company’s stock in a transaction on Wednesday, August 3rd. The shares were 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 directly owns 15,562 shares in the company, valued at $1,456,291.96. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Allen Investment Management LLC boosted its stake in Netflix by 2.6% in the first quarter. Allen Investment Management LLC now owns 30,941 shares of the Internet television network’s stock valued at $3,163,000 after buying an additional 778 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in 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. National Pension Service boosted its stake in Netflix by 4.2% in the first quarter. National Pension Service now owns 215,392 shares of the Internet television network’s stock valued at $22,020,000 after buying an additional 8,623 shares in the last quarter. Hancock Holding Co. boosted its stake in Netflix by 14.2% in the first quarter. Hancock Holding Co. now owns 120,712 shares of the Internet television network’s stock valued at $12,340,000 after buying an additional 15,029 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Netflix by 2.4% in the first quarter. Geode Capital Management LLC now owns 3,450,527 shares of the Internet television network’s stock valued at $352,036,000 after buying an additional 79,246 shares in the last quarter. 78.41% of the stock is currently owned by hedge funds and other 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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