Netflix (NFLX) Given Buy Rating at Loop Capital
Netflix (NASDAQ:NFLX)‘s stock had its “buy” rating restated by equities research analysts at Loop Capital in a note issued to investors on Wednesday. They presently have a $237.00 price objective on the Internet television network’s stock. Loop Capital’s price objective suggests a potential upside of 27.90% from the company’s previous close.
Other analysts also recently issued reports about the stock. Bank of America increased their price target on shares of Netflix from $199.00 to $225.00 in a research report on Tuesday, October 17th. Rosenblatt Securities restated a “buy” rating and set a $200.00 target price on shares of Netflix in a report on Wednesday, August 16th. J P Morgan Chase & Co restated a “buy” rating on shares of Netflix in a report on Wednesday, August 9th. Cantor Fitzgerald restated a “buy” rating and set a $205.00 target price on shares of Netflix in a report on Friday, August 11th. Finally, Sanford C. Bernstein set a $203.00 target price on shares of Netflix and gave the stock a “buy” rating in a report on Wednesday, August 30th. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $209.65.
Shares of Netflix (NFLX) traded up $1.09 during trading hours on Wednesday, hitting $185.30. 5,490,000 shares of the company were exchanged, compared to its average volume of 6,663,598. The firm has a market cap of $79,713.40, a P/E ratio of 186.07, a price-to-earnings-growth ratio of 5.47 and a beta of 1.33. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.47. Netflix has a 1-year low of $121.73 and a 1-year high of $204.38.
In related news, insider Jonathan Friedland sold 3,617 shares of the firm’s stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $203.35, for a total value of $735,516.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard N. Barton sold 700 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $197.38, for a total transaction of $138,166.00. Following the completion of the transaction, the director now directly owns 7,362 shares of the company’s stock, valued at $1,453,111.56. The disclosure for this sale can be found here. Insiders sold 323,935 shares of company stock valued at $62,565,812 over the last three months. 4.90% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in the stock. Balentine LLC boosted its position in Netflix by 1,020.4% during the third quarter. Balentine LLC now owns 549 shares of the Internet television network’s stock worth $100,000 after purchasing an additional 500 shares during the period. Almanack Investment Partners LLC. bought a new position in Netflix during the second quarter worth $101,000. Aviance Capital Management LLC bought a new position in Netflix during the second quarter worth $137,000. Captrust Financial Advisors bought a new position in Netflix during the second quarter worth $139,000. Finally, Harfst & Associates Inc. boosted its position in Netflix by 36.8% during the second quarter. Harfst & Associates Inc. now owns 1,015 shares of the Internet television network’s stock worth $151,000 after purchasing an additional 273 shares during the period. 83.38% of the stock is 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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