Morgan Stanley Raises Netflix, Inc. (NFLX) Price Target to $225.00
Netflix, Inc. (NASDAQ:NFLX) had its price target hoisted by Morgan Stanley from $210.00 to $225.00 in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage currently has an “overweight” rating on the Internet television network’s stock. Morgan Stanley’s price objective would suggest a potential upside of 15.41% from the company’s previous close.
Several other analysts have also recently commented on NFLX. FBR & Co reissued a “hold” rating on shares of Netflix in a report on Thursday, October 5th. Wells Fargo & Company reissued an “outperform” rating on shares of Netflix in a report on Friday, October 6th. Jefferies Group LLC reissued a “hold” rating and issued a $165.00 price target (down from $171.80) on shares of Netflix in a report on Wednesday, August 9th. Robert W. Baird reissued a “hold” rating and issued a $175.00 price target on shares of Netflix in a report on Wednesday, October 4th. Finally, Argus reissued a “hold” rating on shares of Netflix in a report on Tuesday. Two analysts have rated the stock with a sell rating, eighteen have given a hold rating and thirty-one have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $187.79.
Shares of Netflix (NASDAQ:NFLX) traded down 0.07% on Wednesday, hitting $194.95. The stock had a trading volume of 6,450,161 shares. Netflix has a one year low of $97.63 and a one year high of $199.40. The company has a market cap of $84.17 billion, a price-to-earnings ratio of 237.17 and a beta of 1.09. The firm’s 50-day moving average is $181.19 and its 200-day moving average is $164.97.
Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Monday, July 17th. The Internet television network reported $0.15 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.01). The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.76 billion. Netflix had a net margin of 3.55% and a return on equity of 12.82%. The firm’s quarterly revenue was up 32.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.09 earnings per share. On average, analysts expect that Netflix will post $1.18 EPS for the current fiscal year.
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In other news, Director Richard N. Barton sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $169.18, for a total transaction of $338,360.00. Following the completion of the transaction, the director now directly owns 8,012 shares of the company’s stock, valued at $1,355,470.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathan Friedland sold 3,622 shares of the company’s stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of $194.89, for a total value of $705,891.58. The disclosure for this sale can be found here. Insiders have sold 316,067 shares of company stock valued at $56,923,386 over the last ninety days. Corporate insiders own 4.90% of the company’s stock.
Large investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC bought a new position in shares of Netflix during the second quarter valued at approximately $1,045,000. Calamos Advisors LLC grew its holdings in Netflix by 198.5% in the 2nd quarter. Calamos Advisors LLC now owns 208,945 shares of the Internet television network’s stock worth $31,218,000 after buying an additional 138,945 shares in the last quarter. Alps Advisors Inc. bought a new position in Netflix in the 2nd quarter worth approximately $262,000. Guardian Life Insurance Co. of America grew its holdings in Netflix by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,655 shares of the Internet television network’s stock worth $245,000 after buying an additional 11 shares in the last quarter. Finally, Teachers Advisors LLC grew its holdings in Netflix by 2.0% in the 1st quarter. Teachers Advisors LLC now owns 1,300,531 shares of the Internet television network’s stock worth $192,231,000 after buying an additional 25,266 shares in the last quarter. 81.02% of the stock is owned by 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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