Netflix, Inc. (NFLX) Price Target Increased to $240.00 by Analysts at Piper Jaffray Companies
Netflix, Inc. (NASDAQ:NFLX) had its price objective increased by analysts at Piper Jaffray Companies to $240.00 in a report issued on Tuesday. The firm presently has an “overweight” rating on the Internet television network’s stock. Piper Jaffray Companies’ target price would indicate a potential upside of 18.47% from the company’s current price.
A number of other equities analysts have also commented on the company. Goldman Sachs Group, Inc. (The) set a $175.00 price target on Netflix and gave the stock a “buy” rating in a report on Wednesday, June 28th. Guggenheim reaffirmed a “buy” rating and issued a $180.00 price target (up from $175.00) on shares of Netflix in a report on Tuesday, June 20th. Vetr lowered Netflix from a “strong-buy” rating to a “buy” rating and set a $168.56 price target for the company. in a report on Monday, June 19th. MKM Partners reaffirmed a “buy” rating and issued a $195.00 price target on shares of Netflix in a report on Monday, July 10th. Finally, Zacks Investment Research raised Netflix from a “hold” rating to a “buy” rating and set a $173.00 price target for the company in a report on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and thirty-three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $199.37.
Netflix (NASDAQ NFLX) traded down 1.937% during mid-day trading on Tuesday, reaching $198.755. The company had a trading volume of 18,052,238 shares. Netflix has a 12-month low of $98.38 and a 12-month high of $204.38. The stock has a 50-day moving average of $183.35 and a 200 day moving average of $165.87. The company has a market capitalization of $85.81 billion, a price-to-earnings ratio of 241.794 and a beta of 1.09.
Netflix (NASDAQ:NFLX) last released its earnings results on Monday, October 16th. The Internet television network reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.03). Netflix had a return on equity of 12.82% and a net margin of 3.55%. The firm had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.97 billion. During the same period in the prior year, the business earned $0.12 earnings per share. The business’s quarterly revenue was up 30.3% compared to the same quarter last year. On average, analysts expect that Netflix will post $1.19 EPS for the current year.
In related news, Director Richard N. Barton sold 2,000 shares of the business’s stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $196.16, for a total transaction of $392,320.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jonathan Friedland sold 3,622 shares of the business’s stock in a transaction on Friday, October 6th. The shares were sold at an average price of $194.89, for a total transaction of $705,891.58. The disclosure for this sale can be found here. Insiders have sold 303,299 shares of company stock valued at $54,712,558 over the last 90 days. 4.90% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of NFLX. Sands Capital Management LLC acquired a new position in Netflix during the fourth quarter valued at $852,347,000. Matrix Capital Management Company LP acquired a new position in Netflix during the third quarter valued at $394,732,000. Viking Global Investors LP lifted its position in Netflix by 145.5% during the fourth quarter. Viking Global Investors LP now owns 6,469,312 shares of the Internet television network’s stock valued at $800,901,000 after purchasing an additional 3,834,045 shares during the period. Norges Bank acquired a new position in Netflix during the fourth quarter valued at $357,283,000. Finally, FMR LLC lifted its position in Netflix by 12.4% during the second quarter. FMR LLC now owns 23,633,237 shares of the Internet television network’s stock valued at $3,531,042,000 after purchasing an additional 2,605,731 shares during the period. Institutional investors own 81.02% of the company’s stock.
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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