Sanford C. Bernstein Analysts Give Netflix, Inc. (NFLX) a $203.00 Price Target
Netflix, Inc. (NASDAQ:NFLX) received a $203.00 price target from stock analysts at Sanford C. Bernstein in a research note issued to investors on Wednesday. The brokerage presently has a “buy” rating on the Internet television network’s stock. Sanford C. Bernstein’s target price would indicate a potential upside of 20.25% from the company’s previous close.
A number of other research firms also recently weighed in on NFLX. UBS AG reissued a “buy” rating and set a $175.00 target price on shares of Netflix in a report on Monday, May 15th. BMO Capital Markets reissued a “market perform” rating and set a $180.00 target price (up previously from $150.00) on shares of Netflix in a report on Tuesday, July 18th. Needham & Company LLC reissued a “hold” rating on shares of Netflix in a report on Tuesday, July 18th. Bank of America Corporation reissued a “buy” rating and set a $199.00 target price (up previously from $184.00) on shares of Netflix in a report on Tuesday, July 18th. Finally, Vetr raised Netflix from a “sell” rating to a “hold” rating and set a $165.09 target price for the company in a report on Wednesday, August 16th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $178.07.
Shares of Netflix (NASDAQ NFLX) traded up 3.10% during trading on Wednesday, hitting $174.04. 4,987,187 shares of the stock were exchanged. The stock has a market cap of $75.14 billion, a price-to-earnings ratio of 211.73 and a beta of 1.02. Netflix has a 12-month low of $93.26 and a 12-month high of $191.50. The stock’s 50 day moving average is $173.01 and its 200-day moving average is $155.72.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Monday, July 17th. The Internet television network reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by $0.01. Netflix had a net margin of 3.55% and a return on equity of 12.82%. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same period in the prior year, the business earned $0.09 EPS. The company’s revenue for the quarter was up 32.3% compared to the same quarter last year. Equities research analysts anticipate that Netflix will post $1.19 EPS for the current year.
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In related news, Director Richard N. Barton sold 2,000 shares of the stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $165.72, for a total transaction of $331,440.00. Following the sale, the director now owns 8,012 shares of the company’s stock, valued at approximately $1,327,748.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Neil D. Hunt sold 25,000 shares of the stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $163.52, for a total value of $4,088,000.00. Following the sale, the insider now directly owns 484,952 shares in the company, valued at approximately $79,299,351.04. The disclosure for this sale can be found here. Insiders have sold a total of 373,435 shares of company stock worth $63,113,931 in the last ninety days. Insiders own 4.90% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Almanack Investment Partners LLC. bought a new stake in shares of Netflix during the second quarter worth about $101,000. Clean Yield Group acquired a new stake in Netflix during the first quarter valued at $103,000. TD Capital Management LLC acquired a new stake in Netflix during the second quarter valued at $105,000. SRS Capital Advisors Inc. boosted its stake in 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 last quarter. Finally, Harfst & Associates Inc. acquired a new stake in Netflix during the first quarter valued at $109,000. 81.04% of the stock is currently owned by institutional investors and hedge funds.
Netflix Company Profile
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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