Netflix’s (NFLX) Hold Rating Reaffirmed at Goldman Sachs Group Inc.
Netflix Inc. (NASDAQ:NFLX)‘s stock had its “hold” rating reaffirmed by analysts at Goldman Sachs Group Inc. in a note issued to investors on Tuesday. They currently have a $140.00 price objective on the Internet television network’s stock. Goldman Sachs Group Inc.’s price target suggests a potential upside of 40.28% from the stock’s current price.
A number of other research firms have also weighed in on NFLX. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $116.00 price target (down from $125.00) on shares of Netflix in a research report on Tuesday, July 19th. MKM Partners lowered their target price on shares of Netflix from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, July 20th. Vetr raised shares of Netflix from a “hold” rating to a “buy” rating and set a $103.71 target price on the stock in a report on Thursday, September 8th. BMO Capital Markets reissued a “market perform” rating and issued a $85.00 target price on shares of Netflix in a report on Thursday, July 28th. Finally, Jefferies Group reissued an “underperform” rating and issued a $76.00 target price on shares of Netflix in a report on Friday, September 23rd. Eight investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $110.46.
Netflix (NASDAQ:NFLX) opened at 99.80 on Tuesday. The company’s 50 day moving average is $98.99 and its 200 day moving average is $96.28. Netflix has a 12-month low of $79.95 and a 12-month high of $133.27. The company has a market cap 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 posted its quarterly earnings results on Monday, October 17th. The Internet television network reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.06. The business earned $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The company’s revenue was up 31.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.07 earnings per share. Analysts forecast that Netflix will post $0.28 earnings per share for the current fiscal year.
In other news, Director Jay C. Hoag bought 600,000 shares of the firm’s stock in a transaction dated Monday, July 25th. The stock was bought at an average price of $86.43 per share, for a total transaction of $51,858,000.00. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Richard N. Barton sold 700 shares of Netflix stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $93.87, for a total value of $65,709.00. Following the completion of the transaction, the director now owns 15,562 shares of the company’s stock, valued at approximately $1,460,804.94. The disclosure for this sale can be found here. Company insiders own 4.90% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. National Pension Service raised its position in shares of Netflix by 8.7% in the third quarter. National Pension Service now owns 272,049 shares of the Internet television network’s stock valued at $26,810,000 after buying an additional 21,790 shares during the last quarter. Highland Capital Management LLC increased its stake in shares of Netflix by 218.5% in the third quarter. Highland Capital Management LLC now owns 10,350 shares of the Internet television network’s stock valued at $1,020,000 after buying an additional 7,100 shares during the last quarter. Hollencrest Securities LLC acquired a new stake in shares of Netflix during the third quarter valued at $618,000. Capstone Asset Management Co. increased its stake in shares of Netflix by 3.3% in the third quarter. Capstone Asset Management Co. now owns 29,406 shares of the Internet television network’s stock valued at $2,898,000 after buying an additional 938 shares during the last quarter. Finally, Grassi Investment Management acquired a new stake in shares of Netflix during the third quarter valued at $207,000. Institutional investors own 78.41% of the company’s stock.
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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