Netflix Inc. (NFLX) Price Target Raised to $115.00
Netflix Inc. (NASDAQ:NFLX) had its price target upped by research analysts at BMO Capital Markets to $115.00 in a note issued to investors on Tuesday. BMO Capital Markets’ price target would indicate a potential upside of 15.23% from the stock’s current price.
NFLX has been the subject of several other reports. Vetr raised Netflix from a “hold” rating to a “buy” rating and set a $102.90 price objective for the company in a research note on Tuesday, September 20th. Cantor Fitzgerald reissued a “buy” rating on shares of Netflix in a research note on Friday, September 9th. FBR & Co reissued a “market perform” rating and issued a $90.00 price objective on shares of Netflix in a research note on Thursday, September 15th. Wedbush set a $45.00 target price on Netflix and gave the company a “sell” rating in a report on Thursday, October 13th. Finally, RBC Capital Markets restated an “outperform” rating and issued a $130.00 target price on shares of Netflix in a report on Monday, August 29th. Eight equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-seven have assigned a buy rating to the company. Netflix currently has an average rating of “Hold” and a consensus target price of $110.70.
Shares of Netflix (NASDAQ:NFLX) opened at 99.80 on Tuesday. The company has a market capitalization of $42.79 billion, a P/E ratio of 311.88 and a beta of 1.14. Netflix has a 12-month low of $79.95 and a 12-month high of $133.27. The company has a 50 day moving average price of $98.99 and a 200 day moving average price of $96.28.
Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Monday, October 17th. The Internet television network reported $0.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.06. Netflix had a return on equity of 5.59% and a net margin of 1.85%. The firm earned $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the prior year, the company earned $0.07 EPS. The firm’s revenue was up 31.7% compared to the same quarter last year. Equities analysts anticipate that Netflix will post $0.28 EPS for the current year.
In other Netflix news, Director Richard N. Barton sold 2,800 shares of the stock in a transaction on Thursday, October 6th. The stock was sold at an average price of $104.27, for a total transaction of $291,956.00. Following the completion of the transaction, the director now directly owns 15,254 shares of the company’s stock, valued at approximately $1,590,534.58. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Reed Hastings sold 116,431 shares of the stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $86.59, for a total value of $10,081,760.29. Following the transaction, the chief executive officer now directly owns 116,431 shares of the company’s stock, valued at $10,081,760.29. The disclosure for this sale can be found here. Company insiders own 4.90% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. National Pension Service raised its position in shares of Netflix by 8.7% in the third quarter. National Pension Service now owns 272,049 shares of the Internet television network’s stock worth $26,810,000 after buying an additional 21,790 shares during the last quarter. Highland Capital Management LLC raised its position in shares of Netflix by 218.5% in the third quarter. Highland Capital Management LLC now owns 10,350 shares of the Internet television network’s stock worth $1,020,000 after buying an additional 7,100 shares during the last quarter. Hollencrest Securities LLC purchased a new position in shares of Netflix during the third quarter worth about $618,000. Capstone Asset Management Co. raised its position in shares of Netflix by 3.3% in the third quarter. Capstone Asset Management Co. now owns 29,406 shares of the Internet television network’s stock worth $2,898,000 after buying an additional 938 shares during the last quarter. Finally, Grassi Investment Management purchased a new position in shares of Netflix during the third quarter worth about $207,000. 78.41% of the stock is owned by hedge funds and other institutional investors.
Netflix Company Profile
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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