Netflix, Inc. (NASDAQ:NFLX) Given New $230.00 Price Target at MKM Partners
Netflix, Inc. (NASDAQ:NFLX) had its price objective hoisted by equities research analysts at MKM Partners from $195.00 to $230.00 in a research note issued to investors on Thursday. The brokerage currently has a “buy” rating on the Internet television network’s stock. MKM Partners’ price objective indicates a potential upside of 21.64% from the company’s current price.
NFLX has been the topic of a number of other reports. Raymond James Financial, Inc. reissued an “outperform” rating and set a $205.00 price target (up from $165.00) on shares of Netflix in a report on Tuesday, July 18th. FBR & Co reissued a “hold” rating and set a $144.00 price target on shares of Netflix in a report on Tuesday, April 11th. Guggenheim raised their price target on Netflix from $160.00 to $173.00 and gave the company a “buy” rating in a report on Tuesday, April 18th. William Blair reissued an “outperform” rating and set a $165.00 price target on shares of Netflix in a report on Saturday, April 22nd. Finally, Vetr raised Netflix from a “sell” rating to a “hold” rating and set a $158.60 price target on the stock in a report on Monday, May 15th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-nine have assigned a buy rating to the stock. Netflix currently has a consensus rating of “Buy” and an average price target of $174.38.
Netflix (NASDAQ NFLX) traded down 1.28% during mid-day trading on Thursday, hitting $186.66. The company had a trading volume of 2,609,949 shares. Netflix has a 52 week low of $90.50 and a 52 week high of $190.00. The company has a market capitalization of $80.59 billion, a price-to-earnings ratio of 227.08 and a beta of 0.98. The firm’s 50 day moving average is $160.73 and its 200 day moving average is $150.08.
Netflix (NASDAQ:NFLX) last released its earnings results on Monday, July 17th. The Internet television network reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.01. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.76 billion. Netflix had a net margin of 3.55% and a return on equity of 12.82%. Netflix’s revenue for the quarter was up 32.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.09 earnings per share. On average, equities research analysts predict that Netflix will post $1.16 EPS for the current year.
In related news, CEO Reed Hastings sold 101,815 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $157.13, for a total transaction of $15,998,190.95. Following the completion of the transaction, the chief executive officer now owns 101,815 shares of the company’s stock, valued at $15,998,190.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gregory K. Peters sold 6,853 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $164.29, for a total transaction of $1,125,879.37. Following the transaction, the insider now directly owns 19,943 shares of the company’s stock, valued at approximately $3,276,435.47. The disclosure for this sale can be found here. Insiders have sold 433,801 shares of company stock worth $71,702,221 in the last three months. Insiders own 4.90% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. Clean Yield Group bought a new position in shares of Netflix during the first quarter valued at approximately $103,000. TD Capital Management LLC bought a new position in shares of Netflix during the second quarter valued at approximately $105,000. SRS Capital Advisors Inc. raised its position in shares of Netflix by 3,361.9% in the first quarter. SRS Capital Advisors Inc. now owns 727 shares of the Internet television network’s stock valued at $107,000 after buying an additional 706 shares during the period. Harfst & Associates Inc. bought a new position in shares of Netflix during the first quarter valued at approximately $109,000. Finally, Patriot Financial Group Insurance Agency LLC bought a new position in shares of Netflix during the fourth quarter valued at approximately $114,000. 82.82% of the stock is owned by hedge funds and other institutional investors.
Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.
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