Netflix Inc. (NFLX) Price Target Raised to $140.00 at Goldman Sachs Group Inc.
Netflix Inc. (NASDAQ:NFLX) had its target price hoisted by research analysts at Goldman Sachs Group Inc. from $115.00 to $140.00 in a research note issued on Tuesday. The brokerage currently has a “neutral” rating on the Internet television network’s stock. Goldman Sachs Group Inc.’s price objective would suggest a potential upside of 40.28% from the company’s previous close.
Several other brokerages have also recently issued reports on NFLX. JPMorgan Chase & Co. restated an “overweight” rating and issued a $116.00 target price (down previously from $125.00) on shares of Netflix in a report on Tuesday, July 19th. MKM Partners decreased their price target on shares of Netflix from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, July 20th. Vetr upgraded shares of Netflix from a “hold” rating to a “buy” rating and set a $103.71 price target for the company in a research note on Thursday, September 8th. BMO Capital Markets reiterated a “market perform” rating and set a $85.00 price target on shares of Netflix in a research note on Thursday, July 28th. Finally, Jefferies Group reiterated an “underperform” rating and set a $76.00 price target on shares of Netflix in a research note on Friday, September 23rd. Seven research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $115.13.
Shares of Netflix (NASDAQ:NFLX) traded up 18.2920% during midday trading on Tuesday, reaching $118.0554. 17,837,407 shares of the company’s stock traded hands. The stock has a market capitalization of $50.61 billion, a P/E ratio of 368.9231 and a beta of 1.14. Netflix has a 1-year low of $79.95 and a 1-year high of $133.27. The firm’s 50-day moving average price is $98.99 and its 200 day moving average price is $96.28.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/18/netflix-inc-nflx-rating-reiterated-by-goldman-sachs-group-inc.html
Netflix (NASDAQ:NFLX) last issued its earnings results on Monday, October 17th. The Internet television network reported $0.12 earnings per share (EPS) 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 business posted $0.07 EPS. The company’s revenue for the quarter was up 31.7% on a year-over-year basis. On average, equities analysts predict that Netflix will post $0.28 earnings per share for the current fiscal year.
In other 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 transaction of $10,081,760.29. Following the sale, the chief executive officer now directly owns 116,431 shares in the company, valued at approximately $10,081,760.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jay C. Hoag bought 600,000 shares of the firm’s stock in a transaction dated Monday, July 25th. The shares were acquired at an average price of $86.43 per share, for a total transaction 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 have recently made changes to their positions in the stock. Adage Capital Partners GP L.L.C. boosted its stake 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 raised its stake in 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 worth $188,757,000 after buying an additional 656,585 shares during the period. Natixis purchased a new stake in Netflix during the first quarter worth $47,023,000. Private Capital Management Inc. purchased a new stake in Netflix during the second quarter worth $631,000. Finally, Advisory Services Network LLC raised its stake in Netflix by 15.0% in the second quarter. Advisory Services Network LLC now owns 5,415 shares of the Internet television network’s stock worth $495,000 after buying an additional 706 shares during the period. 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.
Receive News & Ratings for Netflix Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Netflix Inc. and related companies with MarketBeat.com's FREE daily email newsletter.