Netflix’s (NFLX) Buy Rating Reaffirmed at Goldman Sachs Group Inc.
Goldman Sachs Group Inc. reissued their buy rating on shares of Netflix Inc. (NASDAQ:NFLX) in a report published on Tuesday. The firm currently has a $140.00 price target on the Internet television network’s stock, up from their previous price target of $115.00.
Several other brokerages have also commented on NFLX. FBR & Co reissued a market perform rating and set a $90.00 price objective on shares of Netflix in a research report on Wednesday, October 5th. Deutsche Bank AG began coverage on Netflix in a research report on Monday, October 10th. They set a sell rating and a $90.00 price objective for the company. They noted that the move was a valuation call. Raymond James Financial Inc. set a $120.00 price objective on Netflix and gave the company a buy rating in a research report on Monday, October 10th. Vetr lowered Netflix from a buy rating to a hold rating and set a $105.94 price objective for the company. in a research report on Monday, October 3rd. Finally, Robert W. Baird reissued a neutral rating and set a $94.00 price objective on shares of Netflix in a research report on Tuesday, October 4th. Eight investment 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 has a consensus rating of Hold and a consensus price target of $115.73.
Netflix (NASDAQ:NFLX) opened at 118.80 on Tuesday. Netflix has a 52-week low of $79.95 and a 52-week high of $133.27. The company has a market cap of $50.93 billion, a price-to-earnings ratio of 371.25 and a beta of 1.14. The company’s 50-day moving average is $99.60 and its 200 day moving average is $96.38.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Monday, October 17th. The Internet television network reported $0.12 EPS for the quarter, beating the consensus estimate of $0.06 by $0.06. The business earned $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. Netflix had a return on equity of 6.45% and a net margin of 1.99%. The company’s revenue for the quarter was up 31.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.07 earnings per share. Equities analysts forecast that Netflix will post $0.28 earnings per share for the current fiscal year.
In other news, Director Jay C. Hoag purchased 600,000 shares of the stock in a transaction dated Monday, July 25th. The shares were purchased at an average cost of $86.43 per share, with a total value of $51,858,000.00. The transaction 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 Netflix stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $93.87, for a total value of $65,709.00. Following the completion of the sale, the director now directly owns 15,562 shares in the company, valued at $1,460,804.94. The disclosure for this sale can be found here. 4.90% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the company. Appropriate Balance Financial Services Inc. raised 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 in the last quarter. Puplava Financial Services Inc. purchased a new stake in shares of Netflix during the third quarter worth about $276,000. First New York Securities LLC NY purchased a new stake in shares of Netflix during the third quarter worth about $212,000. National Pension Service raised 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 in the last quarter. Finally, Highland Capital Management LLC raised 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 in the last quarter. 78.41% of the stock is currently 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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