Netflix Inc. (NFLX) PT Raised to $120.00 at Citigroup Inc.
Netflix Inc. (NASDAQ:NFLX) had its price objective upped by research analysts at Citigroup Inc. from $92.00 to $120.00 in a report released on Tuesday. The brokerage presently has a “neutral” rating on the Internet television network’s stock. Citigroup Inc.’s target price would indicate a potential upside of 20.24% from the company’s previous close.
NFLX has been the topic of several other research reports. FBR & Co restated a “market perform” rating and set a $90.00 price target on shares of Netflix in a report on Wednesday, October 5th. Deutsche Bank AG began coverage on Netflix in a report on Monday, October 10th. They set a “sell” rating and a $90.00 price target on the stock. They noted that the move was a valuation call. Raymond James Financial Inc. set a $120.00 price target on Netflix and gave the company a “buy” rating in a report on Monday, October 10th. Vetr lowered Netflix from a “buy” rating to a “hold” rating and set a $105.94 price target on the stock. in a report on Monday, October 3rd. Finally, Robert W. Baird restated a “neutral” rating and set a $94.00 price target on shares of Netflix in a report on Tuesday, October 4th. Seven equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $115.13.
Netflix (NASDAQ:NFLX) traded up 18.5171% on Tuesday, hitting $118.2801. 17,963,812 shares of the company’s stock traded hands. The stock has a market cap of $50.71 billion, a P/E ratio of 369.6253 and a beta of 1.14. The stock has a 50 day moving average price of $98.99 and a 200-day moving average price of $96.28. Netflix has a 12 month low of $79.95 and a 12 month high of $133.27.
Netflix (NASDAQ:NFLX) last posted its earnings results on Monday, October 17th. The Internet television network reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. The firm earned $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. Netflix had a return on equity of 5.59% and a net margin of 1.85%. The company’s quarterly revenue was up 31.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.07 EPS. Equities analysts predict that Netflix will post $0.28 earnings per share for the current fiscal year.
In other Netflix news, CEO Reed Hastings sold 116,431 shares of the firm’s stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $86.59, for a total transaction of $10,081,760.29. Following the completion of the transaction, the chief executive officer now owns 116,431 shares of the company’s stock, valued at $10,081,760.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jay C. Hoag purchased 600,000 shares of the company’s stock in a transaction on Monday, July 25th. The shares were bought at an average cost of $86.43 per share, with a total value of $51,858,000.00. The disclosure for this purchase can be found here. 4.90% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. Cornerstone Advisors Inc. increased its position in Netflix by 25.6% in the second quarter. Cornerstone Advisors Inc. now owns 1,118 shares of the Internet television network’s stock valued at $102,000 after buying an additional 228 shares during the last quarter. Signature Estate & Investment Advisors LLC bought a new position in Netflix during the second quarter valued at $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 last quarter. 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 last quarter. 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 last quarter. 78.41% of the stock is owned by 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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