Netflix Inc. (NFLX) Price Target Raised to $60.00
Netflix Inc. (NASDAQ:NFLX) had its price target lifted by stock analysts at Wedbush to $60.00 in a report released on Tuesday. The brokerage presently has an “outperform” rating on the Internet television network’s stock. Wedbush’s price objective would indicate a potential downside of 39.88% from the stock’s current price.
Several other research analysts also recently weighed in on NFLX. Jefferies Group restated an “underperform” rating and set a $76.00 target price (down from $80.00) on shares of Netflix in a research note on Sunday, July 17th. SunTrust Banks Inc. reiterated a “hold” rating on shares of Netflix in a research note on Sunday, July 17th. BTIG Research reiterated a “buy” rating and set a $130.00 price target (down previously from $150.00) on shares of Netflix in a research note on Sunday, July 17th. Raymond James Financial Inc. set a $120.00 price target on Netflix and gave the company a “buy” rating in a research note on Sunday. Finally, Royal Bank Of Canada boosted their price target on Netflix from $130.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday. Seven investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-eight have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $113.80.
Netflix (NASDAQ:NFLX) opened at 99.80 on Tuesday. The company has a market cap of $42.79 billion, a P/E ratio of 311.88 and a beta of 1.14. The stock has a 50 day moving average price of $98.99 and a 200 day moving average price of $96.28. Netflix has a 1-year low of $79.95 and a 1-year 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, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.06. Netflix had a return on equity of 5.59% and a net margin of 1.85%. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the previous year, the business earned $0.07 EPS. The firm’s revenue for the quarter was up 31.7% on a year-over-year basis. On average, equities research analysts anticipate that Netflix will post $0.28 EPS for the current fiscal year.
In other news, Director Richard N. Barton sold 1,400 shares of the 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 transaction, the director now owns 15,562 shares in the company, valued at approximately $1,456,291.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Reed Hastings sold 116,431 shares of the stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $86.59, for a total transaction of $10,081,760.29. Following the transaction, the chief executive officer now owns 116,431 shares in the company, valued at approximately $10,081,760.29. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Fulton Bank N.A. raised its position 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 valued at $439,000 after buying an additional 12 shares during the period. Concorde Asset Management LLC raised its position 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 valued at $385,000 after buying an additional 20 shares during the period. Coconut Grove Bank raised its position 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 valued at $140,000 after buying an additional 26 shares during the period. Conning Inc. raised its position 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 valued at $999,000 after buying an additional 30 shares during the period. Finally, Mycio Wealth Partners LLC raised its position 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 valued at $215,000 after buying an additional 35 shares during the period. 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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