Netflix’s (NFLX) Buy Rating Reiterated at Pivotal Research
Netflix Inc. (NASDAQ:NFLX)‘s stock had its “buy” rating reaffirmed by research analysts at Pivotal Research in a report issued on Tuesday. They presently have a $155.00 price target on the Internet television network’s stock, up from their prior price target of $125.00. Pivotal Research’s target price would indicate a potential upside of 30.48% from the stock’s previous close.
Several other equities research analysts also recently weighed in on the stock. Jefferies Group restated an “underperform” rating and issued a $80.00 target price (up from $76.00) on shares of Netflix in a research note on Tuesday. Nomura lifted their price objective on shares of Netflix to $130.00 in a research note on Tuesday. BMO Capital Markets lifted their price objective on shares of Netflix from $85.00 to $115.00 and gave the stock a “market perform” rating in a research note on Tuesday. Mizuho lifted their price objective on shares of Netflix from $90.00 to $112.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Goldman Sachs Group Inc. reiterated a “buy” rating and set a $140.00 price objective (up from $115.00) on shares of Netflix in a research note on Tuesday. Eight equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-eight have given a buy rating to the stock. Netflix presently has an average rating of “Hold” and a consensus price target of $115.72.
Netflix (NASDAQ:NFLX) traded up 19.03% during midday trading on Tuesday, hitting $118.79. The stock had a trading volume of 42,168,221 shares. The firm has a market capitalization of $50.93 billion, a P/E ratio of 371.22 and a beta of 1.14. The firm has a 50-day moving average of $99.60 and a 200 day moving average of $96.38. Netflix has a 52-week low of $79.95 and a 52-week high of $133.27.
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Netflix (NASDAQ:NFLX) last announced its earnings results on Monday, October 17th. The Internet television network reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.06. The company earned $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. Netflix had a net margin of 1.85% and a return on equity of 5.59%. Netflix’s revenue was up 31.7% compared to the same quarter last year. During the same period last year, the firm earned $0.07 earnings per share. On average, equities analysts forecast 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 on Monday, October 3rd. The shares were sold at an average price of $100.00, for a total transaction of $140,000.00. Following the transaction, the director now directly owns 16,262 shares of the company’s stock, valued at $1,626,200. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard N. Barton sold 2,800 shares of the business’s stock in a transaction on Thursday, October 6th. The stock was sold at an average price of $104.27, for a total transaction of $291,956.00. Following the transaction, the director now directly owns 15,254 shares in the company, valued at $1,590,534.58. The disclosure for this sale can be found here. Insiders own 4.90% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Fulton Bank N.A. raised its stake in shares of Netflix by 0.3% in the third quarter. Fulton Bank N.A. now owns 4,450 shares of the Internet television network’s stock worth $439,000 after buying an additional 12 shares during the period. Concorde Asset Management LLC raised its stake in shares of Netflix by 0.5% in the second quarter. Concorde Asset Management LLC now owns 4,205 shares of the Internet television network’s stock worth $385,000 after buying an additional 20 shares during the period. Coconut Grove Bank raised its stake 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 during the period. Conning Inc. raised its stake in shares of Netflix by 0.3% in the second quarter. Conning Inc. now owns 10,915 shares of the Internet television network’s stock worth $999,000 after buying an additional 30 shares during the period. Finally, Mycio Wealth Partners LLC raised its stake in shares of Netflix by 1.5% in the second quarter. Mycio Wealth Partners LLC now owns 2,348 shares of the Internet television network’s stock worth $215,000 after buying an additional 35 shares during the period. 78.41% of the stock is currently owned by institutional investors and hedge funds.
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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