Netflix Inc. (NFLX) Price Target Raised to $130.00
Netflix Inc. (NASDAQ:NFLX) had its target price raised by stock analysts at Morgan Stanley from $110.00 to $130.00 in a research note issued to investors on Tuesday. The firm presently has an “overweight” rating on the Internet television network’s stock. Morgan Stanley’s target price indicates a potential upside of 30.26% from the company’s current price.
Several other analysts have also issued reports on NFLX. Jefferies Group restated an “underperform” rating and issued a $76.00 price target (down from $80.00) on shares of Netflix in a research report on Sunday, July 17th. Wedbush reaffirmed an “underperform” rating and set a $50.00 price objective (up from $45.00) on shares of Netflix in a report on Sunday, July 17th. SunTrust Banks Inc. reaffirmed a “hold” rating on shares of Netflix in a report on Sunday, July 17th. BTIG Research reaffirmed a “buy” rating and set a $130.00 price objective (down from $150.00) on shares of Netflix in a report on Sunday, July 17th. Finally, Raymond James Financial Inc. set a $120.00 price objective on shares of Netflix and gave the stock a “buy” rating in a report on Sunday. Seven equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-eight have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $115.35.
Shares of Netflix (NASDAQ:NFLX) opened at 99.80 on Tuesday. 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 $98.99 and its 200-day moving average is $96.28. The firm has a market capitalization of $42.79 billion, a P/E ratio of 311.88 and a beta of 1.14.
Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Monday, October 17th. The Internet television network reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.06. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The business’s quarterly revenue was up 31.7% on a year-over-year basis. During the same period last year, the business posted $0.07 EPS. On average, equities analysts forecast that Netflix will post $0.28 earnings per share for the current fiscal year.
In other news, Director Richard N. Barton sold 1,400 shares of the stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $100.00, for a total value of $140,000.00. Following the sale, the director now directly owns 16,262 shares of the company’s stock, valued at $1,626,200. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 value of $291,956.00. Following the completion of the sale, the director now directly owns 15,254 shares in the company, valued at $1,590,534.58. The disclosure for this sale can be found here. 4.90% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the company. Cornerstone Advisors Inc. boosted its stake in Netflix by 25.6% in the second quarter. Cornerstone Advisors Inc. now owns 1,118 shares of the Internet television network’s stock worth $102,000 after buying an additional 228 shares in the last quarter. Signature Estate & Investment Advisors LLC bought a new position in Netflix during the second quarter valued at approximately $124,000. Quadrant Capital Group LLC increased its position in Netflix by 15.1% in the second quarter. Quadrant Capital Group LLC now owns 1,475 shares of the Internet television network’s stock valued at $126,000 after buying an additional 194 shares during the period. Coconut Grove Bank increased its position in Netflix by 1.7% in the second quarter. Coconut Grove Bank now owns 1,526 shares of the Internet television network’s stock valued at $140,000 after buying an additional 26 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. increased its position in Netflix by 15.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,690 shares of the Internet television network’s stock valued at $155,000 after buying an additional 224 shares during the period. 78.41% of the stock is currently owned by hedge funds and other institutional investors.
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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