Netflix (NFLX) Price Target Raised to $252.00
Netflix (NASDAQ:NFLX) had its price objective lifted by research analysts at Loop Capital to $252.00 in a note issued to investors on Thursday. The brokerage currently has a “buy” rating on the Internet television network’s stock. Loop Capital’s price objective points to a potential upside of 14.37% from the stock’s previous close.
Other equities research analysts have also issued reports about the stock. B. Riley reiterated a “neutral” rating on shares of Netflix in a report on Wednesday, November 1st. Morgan Stanley reiterated an “overweight” rating and set a $255.00 target price (up from $235.00) on shares of Netflix in a report on Thursday. Buckingham Research increased their target price on shares of Netflix from $235.00 to $251.00 and gave the stock an “in-line” rating in a report on Thursday. Wedbush reiterated a “hold” rating and set a $190.00 target price (up from $180.00) on shares of Netflix in a report on Wednesday, October 18th. Finally, Cantor Fitzgerald reiterated a “buy” rating and set a $205.00 target price on shares of Netflix in a report on Thursday, October 5th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and thirty-five have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $213.07.
Netflix (NASDAQ NFLX) traded up $2.83 during trading hours on Thursday, hitting $220.33. 8,223,287 shares of the company were exchanged, compared to its average volume of 6,590,000. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.20 and a quick ratio of 1.20. The stock has a market cap of $95,340.00, a PE ratio of 222.56, a P/E/G ratio of 3.59 and a beta of 1.34. Netflix has a 1 year low of $131.06 and a 1 year high of $226.07.
Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Monday, October 16th. The Internet television network reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.03). The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.97 billion. Netflix had a return on equity of 14.56% and a net margin of 4.04%. The business’s revenue for the quarter was up 30.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.12 EPS. equities analysts predict that Netflix will post 1.25 earnings per share for the current year.
In other news, CEO Reed Hastings sold 83,335 shares of Netflix stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $192.79, for a total value of $16,066,154.65. Following the sale, the chief executive officer now owns 83,335 shares of the company’s stock, valued at $16,066,154.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard N. Barton sold 350 shares of Netflix stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $185.71, for a total transaction of $64,998.50. Following the completion of the sale, the director now directly owns 7,171 shares in the company, valued at approximately $1,331,726.41. The disclosure for this sale can be found here. In the last ninety days, insiders sold 341,551 shares of company stock worth $66,457,350. Insiders own 4.90% of the company’s stock.
Several large investors have recently modified their holdings of the company. Syntal Capital Partners LLC lifted its stake in shares of Netflix by 81.5% in the fourth quarter. Syntal Capital Partners LLC now owns 8,127 shares of the Internet television network’s stock valued at $1,560,000 after purchasing an additional 3,649 shares during the period. Oakbrook Investments LLC acquired a new stake in shares of Netflix in the fourth quarter valued at about $840,000. Westpac Banking Corp lifted its stake in shares of Netflix by 51.2% in the fourth quarter. Westpac Banking Corp now owns 100,146 shares of the Internet television network’s stock valued at $19,224,000 after purchasing an additional 33,900 shares during the period. Hamilton Lane Advisors LLC acquired a new stake in shares of Netflix in the fourth quarter valued at about $2,867,000. Finally, CAPROCK Group Inc. acquired a new stake in shares of Netflix in the fourth quarter valued at about $228,000. 83.27% of the stock is currently owned by institutional investors and hedge funds.
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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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