Royal Bank Of Canada Raises Netflix Inc. (NFLX) Price Target to $150.00
Netflix Inc. (NASDAQ:NFLX) had its price target hoisted by investment analysts at Royal Bank Of Canada from $130.00 to $150.00 in a research note issued on Tuesday. The brokerage presently has an “outperform” rating on the Internet television network’s stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 26.27% from the company’s current price.
Several other research firms have also recently weighed in on NFLX. FBR & Co reaffirmed a “market perform” rating and set a $90.00 price objective on shares of Netflix in a research report on Wednesday, October 5th. Deutsche Bank AG began coverage on Netflix in a research report on Monday, October 10th. They issued a “sell” rating and a $90.00 price target on the stock. They noted that the move was a valuation call. Raymond James Financial Inc. set a $120.00 price target on Netflix and gave the stock a “buy” rating in a research report on Monday, October 10th. Vetr cut Netflix from a “buy” rating to a “hold” rating and set a $105.94 price target on the stock. in a research report on Monday, October 3rd. Finally, Robert W. Baird reissued a “neutral” rating and issued a $94.00 price target on shares of Netflix in a research report on Tuesday, October 4th. Eight investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-eight have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $115.72.
Netflix (NASDAQ:NFLX) traded up 19.03% during mid-day trading on Tuesday, reaching $118.79. The company’s stock had a trading volume of 42,168,221 shares. The company has a 50-day moving average price of $99.60 and a 200-day moving average price of $96.38. The firm has a market cap of $50.93 billion, a PE ratio of 371.22 and a beta of 1.14. Netflix has a 12-month low of $79.95 and a 12-month high of $133.27.
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Netflix (NASDAQ:NFLX) last posted its quarterly earnings data 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 business 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 business’s revenue was up 31.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.07 EPS. On average, equities research analysts expect that Netflix will post $0.28 earnings per share for the current year.
In other news, Director Richard N. Barton sold 1,400 shares of the business’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $100.00, for a total transaction of $140,000.00. Following the completion of the sale, the director now owns 16,262 shares of the company’s stock, valued at $1,626,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard N. Barton sold 2,800 shares of the business’s stock in a transaction dated Thursday, October 6th. The stock was sold at an average price of $104.27, for a total transaction of $291,956.00. Following the sale, the director now directly owns 15,254 shares of the company’s stock, valued at approximately $1,590,534.58. The disclosure for this sale can be found here. Insiders own 4.90% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Appropriate Balance Financial Services Inc. boosted its stake in Netflix by 7.0% in the third quarter. Appropriate Balance Financial Services Inc. now owns 5,481 shares of the Internet television network’s stock worth $540,000 after buying an additional 360 shares in the last quarter. Puplava Financial Services Inc. bought a new stake in Netflix during the third quarter worth approximately $276,000. First New York Securities LLC NY bought a new stake in Netflix during the third quarter worth approximately $212,000. National Pension Service boosted its stake in Netflix by 8.7% in the third quarter. National Pension Service now owns 272,049 shares of the Internet television network’s stock worth $26,810,000 after buying an additional 21,790 shares in the last quarter. Finally, Highland Capital Management LLC boosted its stake in Netflix by 218.5% in the third quarter. Highland Capital Management LLC now owns 10,350 shares of the Internet television network’s stock worth $1,020,000 after buying an additional 7,100 shares in the last quarter. 78.41% of the stock is owned by institutional investors and hedge funds.
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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