Wedbush Analysts Give Netflix, Inc. (NFLX) a $88.00 Price Target
Netflix, Inc. (NASDAQ:NFLX) received a $88.00 price target from analysts at Wedbush in a research note issued to investors on Friday. The brokerage presently has a “sell” rating on the Internet television network’s stock. Wedbush’s price target suggests a potential downside of 54.73% from the stock’s current price.
NFLX has been the topic of a number of other reports. Raymond James Financial, Inc. reaffirmed an “outperform” rating and set a $205.00 target price (up from $165.00) on shares of Netflix in a research report on Tuesday, July 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $190.00 target price on shares of Netflix in a research report on Thursday, July 13th. Vetr raised Netflix from a “strong sell” rating to a “sell” rating and set a $177.49 target price on the stock in a research report on Tuesday, September 19th. MKM Partners boosted their target price on Netflix from $195.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, July 27th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $200.00 target price (up from $175.00) on shares of Netflix in a research report on Tuesday, July 18th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirty-one have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $184.65.
Netflix (NASDAQ:NFLX) traded up 1.87% during mid-day trading on Friday, hitting $198.02. The company had a trading volume of 15,110,076 shares. The company’s 50 day moving average price is $177.87 and its 200-day moving average price is $163.29. The company has a market cap of $85.49 billion, a PE ratio of 240.90 and a beta of 1.09. Netflix has a one year low of $97.63 and a one year high of $198.92. Netflix also saw unusually large options trading on Thursday. Investors purchased 122,784 call options on the company. This is an increase of 283% compared to the average volume of 32,078 call options.
Netflix (NASDAQ:NFLX) last announced its earnings results on Monday, July 17th. The Internet television network reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.76 billion. Netflix had a return on equity of 12.82% and a net margin of 3.55%. The firm’s revenue for the quarter was up 32.3% on a year-over-year basis. During the same period last year, the firm earned $0.09 earnings per share. Equities research analysts anticipate that Netflix will post $1.17 EPS for the current fiscal year.
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In other news, Director Richard N. Barton sold 2,000 shares of the firm’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $179.89, for a total value of $359,780.00. Following the transaction, the director now directly owns 7,930 shares in the company, valued at approximately $1,426,527.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gregory K. Peters sold 12,768 shares of the firm’s stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $177.38, for a total value of $2,264,787.84. Following the completion of the transaction, the insider now owns 19,208 shares in the company, valued at $3,407,115.04. The disclosure for this sale can be found here. Insiders sold a total of 310,325 shares of company stock worth $55,807,018 over the last 90 days. 4.90% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of NFLX. Monetta Financial Services Inc. raised its stake in Netflix by 184.1% during the 1st quarter. Monetta Financial Services Inc. now owns 12,500 shares of the Internet television network’s stock worth $1,848,000 after buying an additional 8,100 shares during the period. KBC Group NV raised its stake in Netflix by 14.1% during the 1st quarter. KBC Group NV now owns 117,245 shares of the Internet television network’s stock worth $17,330,000 after buying an additional 14,460 shares during the period. Prudential Financial Inc. raised its stake in Netflix by 17.7% during the 1st quarter. Prudential Financial Inc. now owns 1,325,542 shares of the Internet television network’s stock worth $195,929,000 after buying an additional 199,010 shares during the period. Doheny Asset Management CA acquired a new stake in Netflix during the 1st quarter worth $1,058,000. Finally, Stifel Financial Corp raised its stake in Netflix by 117.1% during the 1st quarter. Stifel Financial Corp now owns 161,197 shares of the Internet television network’s stock worth $23,835,000 after buying an additional 86,934 shares during the period. 81.03% of the stock is currently owned by institutional investors and hedge funds.
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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