Netflix, Inc. (NFLX) Given a $203.00 Price Target at Sanford C. Bernstein
Sanford C. Bernstein set a $203.00 price target on Netflix, Inc. (NASDAQ:NFLX) in a research note published on Wednesday. The firm currently has a buy rating on the Internet television network’s stock.
A number of other research analysts have also recently issued reports on the stock. Vetr raised shares of Netflix from a sell rating to a hold rating and set a $165.75 target price for the company in a report on Thursday, August 10th. MKM Partners reaffirmed a buy rating and issued a $195.00 target price on shares of Netflix in a report on Monday, July 10th. J P Morgan Chase & Co reaffirmed a buy rating on shares of Netflix in a report on Wednesday, August 9th. KeyCorp reaffirmed a buy rating and issued a $190.00 target price on shares of Netflix in a report on Friday, August 25th. Finally, Zacks Investment Research raised shares of Netflix from a hold rating to a buy rating and set a $173.00 target price for the company in a report on Thursday, July 13th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-seven have issued a buy rating to the company. The company currently has an average rating of Buy and an average target price of $178.07.
Shares of Netflix (NASDAQ:NFLX) opened at 174.69 on Wednesday. The company’s 50-day moving average price is $173.01 and its 200-day moving average price is $155.72. Netflix has a 52-week low of $93.26 and a 52-week high of $191.50. The stock has a market cap of $75.42 billion, a PE ratio of 212.52 and a beta of 1.02. Netflix also was the recipient of unusually large options trading activity on Wednesday. Traders purchased 58,939 call options on the stock. This is an increase of 141% compared to the typical volume of 24,487 call options.
Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Monday, July 17th. The Internet television network reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by $0.01. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.76 billion. Netflix had a return on equity of 12.82% and a net margin of 3.55%. The company’s revenue for the quarter was up 32.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.09 earnings per share. On average, equities research analysts forecast that Netflix will post $1.19 earnings per share for the current fiscal year.
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In other news, CEO Reed Hastings sold 115,577 shares of the business’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $152.63, for a total value of $17,640,517.51. Following the completion of the sale, the chief executive officer now directly owns 115,577 shares in the company, valued at $17,640,517.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard N. Barton sold 1,000 shares of the business’s stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $156.62, for a total transaction of $156,620.00. Following the completion of the sale, the director now owns 8,012 shares of the company’s stock, valued at $1,254,839.44. The disclosure for this sale can be found here. Insiders sold 348,435 shares of company stock valued at $59,025,931 over the last 90 days. 4.90% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of the company. Almanack Investment Partners LLC. purchased a new stake in shares of Netflix during the second quarter worth $101,000. Clean Yield Group purchased a new stake in shares of Netflix during the first quarter worth $103,000. TD Capital Management LLC purchased a new stake in shares of Netflix during the second quarter worth $105,000. Appropriate Balance Financial Services Inc. boosted its stake in shares of Netflix by 5.6% in the second quarter. Appropriate Balance Financial Services Inc. now owns 702 shares of the Internet television network’s stock worth $4,701,000 after buying an additional 37 shares during the last quarter. Finally, SRS Capital Advisors Inc. boosted its stake in shares of Netflix by 3,361.9% in the first quarter. SRS Capital Advisors Inc. now owns 727 shares of the Internet television network’s stock worth $107,000 after buying an additional 706 shares during the last quarter. Institutional investors and hedge funds own 81.04% of the company’s stock.
Netflix Company Profile
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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