Netflix, Inc. (NFLX) Price Target Raised to $240.00
Netflix, Inc. (NASDAQ:NFLX) had its price target increased by Piper Jaffray Companies to $240.00 in a report issued on Tuesday. The firm currently has an overweight rating on the Internet television network’s stock.
NFLX has been the subject of several other reports. Sanford C. Bernstein set a $203.00 price objective on Netflix and gave the stock a buy rating in a report on Wednesday, August 30th. Citigroup Inc. increased their price objective on Netflix from $180.00 to $205.00 and gave the stock a neutral rating in a report on Friday, October 13th. Morgan Stanley reiterated an overweight rating and set a $185.00 price objective (up from $175.00) on shares of Netflix in a report on Thursday, July 13th. Vetr lowered Netflix from a sell rating to a strong sell rating and set a $162.49 price objective for the company. in a report on Monday, September 18th. Finally, Robert W. Baird reiterated a hold rating and set a $175.00 price objective on shares of Netflix in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and thirty-four have given a buy rating to the company’s stock. Netflix currently has an average rating of Buy and a consensus price target of $205.69.
Shares of Netflix (NFLX) traded down 0.50% during midday trading on Tuesday, reaching $194.16. The company’s stock had a trading volume of 5,992,026 shares. The stock has a market capitalization of $83.96 billion, a PE ratio of 193.97 and a beta of 1.09. Netflix has a 52 week low of $98.38 and a 52 week high of $200.82. The stock has a 50-day moving average price of $186.18 and a 200 day moving average price of $167.05.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Monday, October 16th. The Internet television network reported $0.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.03). Netflix had a return on equity of 14.56% and a net margin of 4.04%. The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.97 billion. During the same quarter in the prior year, the business posted $0.12 earnings per share. Netflix’s revenue was up 30.3% on a year-over-year basis. Equities analysts forecast that Netflix will post $1.25 earnings per share for the current year.
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In other news, Director Richard N. Barton sold 1,000 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $187.79, for a total value of $187,790.00. Following the sale, the director now directly owns 7,198 shares of the company’s stock, valued at approximately $1,351,712.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Reed Hastings sold 109,214 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $188.61, for a total transaction of $20,598,852.54. Following the completion of the sale, the chief executive officer now directly owns 109,214 shares in the company, valued at $20,598,852.54. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 305,288 shares of company stock worth $55,168,715. 4.90% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC bought a new stake in shares of Netflix in the 2nd quarter valued at about $1,045,000. Calamos Advisors LLC raised its holdings in shares of Netflix by 198.5% in the 2nd quarter. Calamos Advisors LLC now owns 208,945 shares of the Internet television network’s stock valued at $31,218,000 after purchasing an additional 138,945 shares during the period. Alps Advisors Inc. bought a new stake in shares of Netflix in the 2nd quarter valued at about $262,000. Guardian Life Insurance Co. of America raised its holdings in shares of Netflix by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,655 shares of the Internet television network’s stock valued at $245,000 after purchasing an additional 11 shares during the period. Finally, Teachers Advisors LLC raised its holdings in shares of Netflix by 2.0% in the 1st quarter. Teachers Advisors LLC now owns 1,300,531 shares of the Internet television network’s stock valued at $192,231,000 after purchasing an additional 25,266 shares during the period. 81.02% of the stock is currently owned by institutional investors.
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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