Netflix Inc. (NFLX) PT Raised to $125.00 at JPMorgan Chase & Co.
Netflix Inc. (NASDAQ:NFLX) had its target price increased by investment analysts at JPMorgan Chase & Co. from $116.00 to $125.00 in a research note issued to investors on Tuesday. The brokerage currently has an “overweight” rating on the Internet television network’s stock. JPMorgan Chase & Co.’s target price indicates a potential upside of 28.23% from the company’s current price.
NFLX has been the subject of several other reports. Morgan Stanley reiterated a “buy” rating and issued a $125.00 target price on shares of Netflix in a research note on Monday, June 6th. Needham & Company LLC cut shares of Netflix from a “buy” rating to a “hold” rating and boosted their target price for the company from $95.15 to $96.67 in a research note on Tuesday, July 5th. Bank of America Corp. reiterated a “buy” rating and issued a $146.00 target price on shares of Netflix in a research note on Friday, August 26th. Wedbush boosted their target price on shares of Netflix from $45.00 to $50.00 and gave the company an “underperform” rating in a research note on Tuesday, July 19th. Finally, Vetr cut shares of Netflix from a “strong-buy” rating to a “buy” rating and set a $102.41 target price for the company. in a research note on Wednesday, July 27th. Seven research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-eight have given a buy rating to the stock. Netflix has a consensus rating of “Hold” and a consensus price target of $110.70.
Netflix (NASDAQ:NFLX) opened at 97.48 on Tuesday. The company has a market capitalization of $41.79 billion, a P/E ratio of 304.63 and a beta of 1.71. Netflix has a 52 week low of $79.95 and a 52 week high of $133.27. The stock’s 50 day moving average is $96.85 and its 200 day moving average is $96.16.
Netflix (NASDAQ:NFLX) last posted its earnings results on Monday, July 18th. The Internet television network reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.07. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The firm earned $2.11 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same period in the previous year, the business posted $0.06 EPS. The business’s revenue was up 19.5% compared to the same quarter last year. On average, equities research analysts expect that Netflix will post $0.29 earnings per share for the current year.
In other news, Director Richard N. Barton sold 700 shares of the business’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $95.00, for a total transaction of $66,500.00. Following the completion of the sale, the director now owns 15,562 shares in the company, valued at approximately $1,478,390. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard N. Barton sold 1,400 shares of the business’s stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $95.63, for a total value of $133,882.00. Following the sale, the director now owns 15,562 shares of the company’s stock, valued at approximately $1,488,194.06. The disclosure for this sale can be found here. Insiders own 4.90% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Winslow Capital Management LLC bought a new position in Netflix during the second quarter worth $209,447,000. Capital World Investors boosted its position in Netflix by 32.4% in the second quarter. Capital World Investors now owns 6,656,926 shares of the Internet television network’s stock worth $608,976,000 after buying an additional 1,630,881 shares in the last quarter. Jericho Capital Asset Management L.P. bought a new position in Netflix during the first quarter worth $94,076,000. Capital Research Global Investors boosted its position in Netflix by 1.5% in the second quarter. Capital Research Global Investors now owns 49,967,802 shares of the Internet television network’s stock worth $4,571,055,000 after buying an additional 761,325 shares in the last quarter. Finally, Criterion Capital Management LLC boosted its position in Netflix by 241.5% in the second quarter. Criterion Capital Management LLC now owns 991,469 shares of the Internet television network’s stock worth $90,700,000 after buying an additional 701,119 shares in the last quarter. Institutional investors and hedge funds own 78.43% of the company’s stock.
Netflix, Inc (Netflix) is a provider of Internet television network. The Company’s members can watch original series, documentaries and feature films in Internet-connected screen. The Company has three operating segments: Domestic streaming, International streaming and Domestic DVD. The Domestic and International streaming segments derive revenues from monthly membership fees for services consisting of streaming content.
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