Netflix Inc. (NFLX) Given New $115.00 Price Target at SunTrust Banks Inc.
Netflix Inc. (NASDAQ:NFLX) had its target price hoisted by SunTrust Banks Inc. from $110.00 to $115.00 in a research report report published on Tuesday morning. They currently have a hold rating on the Internet television network’s stock.
NFLX has been the topic of several other research reports. Needham & Company LLC downgraded Netflix from a buy rating to a hold rating and upped their price target for the stock from $95.15 to $96.67 in a report on Tuesday, July 5th. Pivotal Research reiterated a buy rating and issued a $155.00 price objective (up previously from $125.00) on shares of Netflix in a report on Tuesday. Bank of America Corp. reiterated a buy rating and issued a $146.00 price objective on shares of Netflix in a report on Friday, August 26th. Jefferies Group reiterated an underperform rating and issued a $80.00 price objective (up previously from $76.00) on shares of Netflix in a report on Tuesday. Finally, Wedbush increased their price objective on Netflix from $45.00 to $50.00 and gave the company an underperform rating in a report on Tuesday, July 19th. Eight research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $115.73.
Netflix (NASDAQ:NFLX) traded up 1.33% during midday trading on Tuesday, hitting $120.37. The company had a trading volume of 3,903,066 shares. The company has a market cap of $51.61 billion, a price-to-earnings ratio of 376.16 and a beta of 1.14. The firm has a 50-day moving average price of $99.60 and a 200-day moving average price of $96.38. Netflix has a 12 month low of $79.95 and a 12 month high of $133.27.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Monday, October 17th. The Internet television network reported $0.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.06. Netflix had a return on equity of 6.45% and a net margin of 1.99%. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the prior year, the business earned $0.07 EPS. Netflix’s revenue was up 31.7% on a year-over-year basis. Equities analysts anticipate that Netflix will post $0.28 EPS for the current year.
In other 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 sale, the director now owns 15,254 shares in the company, valued at approximately $1,590,534.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard N. Barton sold 700 shares of the stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $93.87, for a total value of $65,709.00. Following the sale, the director now owns 15,562 shares of the company’s stock, valued at approximately $1,460,804.94. The disclosure for this sale can be found here. Insiders own 4.90% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Appropriate Balance Financial Services Inc. increased its stake in shares of Netflix by 7.0% in the third quarter. Appropriate Balance Financial Services Inc. now owns 5,481 shares of the Internet television network’s stock worth $540,000 after buying an additional 360 shares during the period. Puplava Financial Services Inc. bought a new stake in shares of Netflix during the third quarter worth approximately $276,000. First New York Securities LLC NY bought a new stake in shares of Netflix during the third quarter worth approximately $212,000. National Pension Service increased its stake 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 period. Finally, Highland Capital Management LLC increased its stake 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 period. Institutional investors own 78.41% of the company’s stock.
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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