Netflix Inc. (NFLX) PT Raised to $100.00
Netflix Inc. (NASDAQ:NFLX) had its price objective boosted by equities research analysts at FBR & Co from $90.00 to $100.00 in a report issued on Tuesday. The brokerage presently has a “market perform” rating on the Internet television network’s stock. FBR & Co’s target price suggests a potential downside of 15.82% from the stock’s current price.
Several other research analysts have also recently issued reports on the company. Pacific Crest reissued a “buy” rating and issued a $130.00 price objective on shares of Netflix in a research note on Wednesday, June 22nd. Zacks Investment Research raised Netflix from a “hold” rating to a “buy” rating and set a $105.00 price objective on the stock in a research note on Tuesday, June 21st. Nomura reissued a “buy” rating and issued a $115.00 price objective (down previously from $125.00) on shares of Netflix in a research note on Monday, June 20th. Cantor Fitzgerald reissued a “buy” rating and issued a $140.00 price objective on shares of Netflix in a research note on Thursday, June 23rd. Finally, Vetr cut Netflix from a “strong-buy” rating to a “buy” rating and set a $107.96 price objective on the stock. in a research note on Monday, July 4th. Eight analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $115.73.
Netflix (NASDAQ:NFLX) opened at 118.79 on Tuesday. The stock has a market cap of $50.93 billion, a PE ratio of 371.22 and a beta of 1.14. Netflix has a 1-year low of $79.95 and a 1-year high of $133.27. The stock has a 50 day moving average price of $99.60 and a 200 day moving average price of $96.38.
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Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Monday, October 17th. The Internet television network reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.06. Netflix had a return on equity of 6.45% and a net margin of 1.99%. 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 prior year, the business posted $0.07 earnings per share. The company’s revenue for the quarter was up 31.7% on a year-over-year basis. On average, analysts predict that Netflix will post $0.28 EPS for the current fiscal year.
In other Netflix news, CEO Reed Hastings sold 116,431 shares of the business’s stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $86.59, for a total value of $10,081,760.29. Following the sale, the chief executive officer now owns 116,431 shares of the company’s stock, valued at $10,081,760.29. The sale was disclosed in a filing with the SEC, 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 that occurred on Thursday, October 6th. The shares were sold at an average price of $104.27, for a total value of $291,956.00. Following the completion of the sale, the director now directly owns 15,254 shares in the company, valued at approximately $1,590,534.58. The disclosure for this sale can be found here. 4.90% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in the stock. Cornerstone Advisors Inc. raised its stake in shares of Netflix by 25.6% in the second quarter. Cornerstone Advisors Inc. now owns 1,118 shares of the Internet television network’s stock worth $102,000 after buying an additional 228 shares during the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in Netflix during the second quarter valued at approximately $124,000. Quadrant Capital Group LLC increased its position in Netflix by 15.1% in the second quarter. Quadrant Capital Group LLC now owns 1,475 shares of the Internet television network’s stock valued at $126,000 after buying an additional 194 shares during the period. Coconut Grove Bank increased its position in 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. Finally, Harel Insurance Investments & Financial Services Ltd. increased its position in Netflix by 15.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,690 shares of the Internet television network’s stock valued at $155,000 after buying an additional 224 shares during the period. 78.41% of the stock is currently owned by institutional investors.
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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