Pivotal Research Lowers Netflix (NASDAQ:NFLX) Price Target to $70.00

Netflix (NASDAQ:NFLXGet Free Report) had its target price decreased by stock analysts at Pivotal Research from $96.00 to $70.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “hold” rating on the Internet television network’s stock. Pivotal Research’s target price would indicate a potential upside of 1.52% from the company’s previous close.

A number of other equities analysts have also weighed in on the company. Barclays reaffirmed a “reduce” rating on shares of Netflix in a research report on Thursday. Citic Securities lifted their price target on shares of Netflix from $95.00 to $107.00 and gave the company a “hold” rating in a research report on Monday, April 27th. Weiss Ratings lowered shares of Netflix from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, June 26th. JPMorgan Chase & Co. restated a “buy” rating on shares of Netflix in a research note on Wednesday, April 22nd. Finally, Guggenheim restated a “buy” rating and set a $120.00 price objective on shares of Netflix in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating and sixteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and an average price target of $103.97.

View Our Latest Report on Netflix

Netflix Stock Performance

Shares of Netflix stock opened at $68.95 on Friday. Netflix has a one year low of $65.08 and a one year high of $126.71. The firm has a market capitalization of $290.33 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 0.88 and a beta of 1.52. The business has a 50-day simple moving average of $80.15 and a 200 day simple moving average of $86.90. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.41 and a quick ratio of 1.41.

Netflix (NASDAQ:NFLXGet Free Report) last posted its quarterly earnings results on Thursday, July 16th. The Internet television network reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.01. The business had revenue of $12.56 billion for the quarter, compared to the consensus estimate of $12.58 billion. Netflix had a return on equity of 40.83% and a net margin of 28.22%.The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.72 EPS. On average, research analysts anticipate that Netflix will post 3.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Netflix

In other news, Director Bradford L. Smith sold 35,990 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $77.52, for a total value of $2,789,944.80. Following the completion of the sale, the director owned 79,690 shares in the company, valued at $6,177,568.80. This represents a 31.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Spencer Adam Neumann sold 9,253 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $88.95, for a total transaction of $823,054.35. Following the transaction, the chief financial officer directly owned 73,787 shares in the company, valued at $6,563,353.65. The trade was a 11.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 899,839 shares of company stock worth $80,141,661. 1.24% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Netflix

A number of institutional investors have recently added to or reduced their stakes in NFLX. Brighton Jones LLC grew its stake in Netflix by 5.0% in the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network’s stock valued at $4,804,000 after purchasing an additional 257 shares during the period. Revolve Wealth Partners LLC raised its stake in shares of Netflix by 16.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network’s stock worth $912,000 after purchasing an additional 144 shares during the period. Sivia Capital Partners LLC raised its stake in shares of Netflix by 21.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,406 shares of the Internet television network’s stock worth $1,883,000 after purchasing an additional 246 shares during the period. Strategic Investment Advisors MI boosted its holdings in shares of Netflix by 18.9% in the 2nd quarter. Strategic Investment Advisors MI now owns 774 shares of the Internet television network’s stock worth $1,036,000 after buying an additional 123 shares during the last quarter. Finally, Schnieders Capital Management LLC. boosted its holdings in shares of Netflix by 12.1% in the 2nd quarter. Schnieders Capital Management LLC. now owns 2,115 shares of the Internet television network’s stock worth $2,832,000 after buying an additional 228 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

Key Stories Impacting Netflix

Here are the key news stories impacting Netflix this week:

About Netflix

(Get Free Report)

Netflix, Inc (NASDAQ: NFLX) is a global entertainment company that provides subscription-based streaming of films, television series, documentaries and other video content. Founded in 1997 by Reed Hastings and Marc Randolph and headquartered in Los Gatos, California, the company began as a DVD-by-mail rental service and introduced streaming video in 2007. Netflix later expanded into producing and distributing original programming, beginning notable original hits in the 2010s, and now operates a content production and distribution ecosystem alongside its licensing activity.

The company’s primary product is its on-demand streaming service, which can be accessed on a wide range of internet-connected devices and delivered through a suite of apps and web platforms.

Further Reading

Analyst Recommendations for Netflix (NASDAQ:NFLX)

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