KeyCorp Reaffirms “Overweight” Rating for Netflix (NFLX)

Netflix (NASDAQ:NFLX)‘s stock had its “overweight” rating restated by stock analysts at KeyCorp in a note issued to investors on Friday, MarketBeat.com reports. They presently have a $270.00 target price on the Internet television network’s stock, up from their prior target price of $230.00. KeyCorp’s price objective indicates a potential upside of 22.47% from the stock’s current price. KeyCorp also issued estimates for Netflix’s Q1 2018 earnings at $0.53 EPS, Q2 2018 earnings at $0.61 EPS, Q3 2018 earnings at $0.64 EPS and FY2018 earnings at $2.47 EPS.

NFLX has been the subject of several other research reports. Credit Suisse Group set a $224.00 target price on shares of Netflix and gave the stock a “neutral” rating in a report on Monday, January 8th. BidaskClub cut shares of Netflix from a “buy” rating to a “hold” rating in a research note on Saturday, December 2nd. Citigroup boosted their price target on shares of Netflix from $180.00 to $205.00 and gave the stock a “neutral” rating in a research note on Friday, October 13th. Vetr upgraded shares of Netflix from a “buy” rating to a “strong-buy” rating and set a $214.83 price target on the stock in a research note on Friday, December 22nd. Finally, Loop Capital boosted their price target on shares of Netflix from $237.00 to $241.00 and gave the stock a “buy” rating in a research note on Tuesday, January 2nd. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and thirty-five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $213.56.

Netflix (NASDAQ:NFLX) opened at $220.46 on Friday. The firm has a market cap of $95,400.00, a price-to-earnings ratio of 222.69, a P/E/G ratio of 3.59 and a beta of 1.34. 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 $137.03 and a 1-year high of $226.07.

In other news, Director Richard N. Barton sold 700 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 7,362 shares in the company, valued at $1,453,111.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jonathan Friedland sold 2,743 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $205.59, for a total transaction of $563,933.37. Following the transaction, the insider now owns 1,147 shares in the company, valued at $235,811.73. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 341,551 shares of company stock worth $66,457,350. Insiders own 4.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its position in Netflix by 5.0% during the third quarter. Bank of New York Mellon Corp now owns 3,638,317 shares of the Internet television network’s stock valued at $659,809,000 after acquiring an additional 172,229 shares during the last quarter. Tybourne Capital Management HK Ltd. lifted its position in Netflix by 3.6% during the second quarter. Tybourne Capital Management HK Ltd. now owns 2,400,536 shares of the Internet television network’s stock valued at $358,664,000 after acquiring an additional 84,341 shares during the last quarter. Janus Henderson Group PLC lifted its position in Netflix by 3,478.1% during the second quarter. Janus Henderson Group PLC now owns 2,041,458 shares of the Internet television network’s stock valued at $305,014,000 after acquiring an additional 1,984,404 shares during the last quarter. Legal & General Group Plc lifted its position in Netflix by 3.3% during the third quarter. Legal & General Group Plc now owns 1,855,088 shares of the Internet television network’s stock valued at $336,420,000 after acquiring an additional 58,691 shares during the last quarter. Finally, Swiss National Bank lifted its position in Netflix by 1.0% during the third quarter. Swiss National Bank now owns 1,588,825 shares of the Internet television network’s stock valued at $288,133,000 after acquiring an additional 16,300 shares during the last quarter. Hedge funds and other institutional investors own 83.27% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This piece of content was first posted by American Banking News and is the sole property of of American Banking News. If you are viewing this piece of content on another publication, it was stolen and reposted in violation of United States & international copyright and trademark laws. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2018/01/21/keycorp-reaffirms-overweight-rating-for-netflix-nflx.html.

About Netflix

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.

Analyst Recommendations for Netflix (NASDAQ:NFLX)

Receive News & Ratings for Netflix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Netflix and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply