Guggenheim Raises Netflix, Inc. (NFLX) Price Target to $173.00
Netflix, Inc. (NASDAQ:NFLX) had its target price upped by Guggenheim from $160.00 to $173.00 in a report published on Tuesday morning. They currently have a buy rating on the Internet television network’s stock.
Several other analysts have also recently commented on the company. Canaccord Genuity reaffirmed a buy rating and issued a $140.00 target price on shares of Netflix in a research report on Tuesday, January 3rd. Loop Capital reaffirmed a buy rating and issued a $159.00 target price on shares of Netflix in a research report on Saturday, January 28th. Zacks Investment Research cut Netflix from a buy rating to a hold rating in a research report on Tuesday, March 7th. Vetr upgraded Netflix from a strong sell rating to a sell rating and set a $135.13 price objective for the company in a report on Monday, February 13th. Finally, MKM Partners reiterated a buy rating and set a $175.00 price objective (up from $165.00) on shares of Netflix in a report on Tuesday, January 31st. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twenty-six have given a buy rating to the company. Netflix has an average rating of Buy and an average price target of $145.35.
Netflix (NASDAQ:NFLX) traded up 0.10% during mid-day trading on Tuesday, hitting $141.32. The company had a trading volume of 2,567,910 shares. The firm has a market cap of $60.83 billion, a P/E ratio of 328.65 and a beta of 1.27. The stock’s 50 day moving average price is $143.46 and its 200 day moving average price is $130.69. Netflix has a 52-week low of $84.50 and a 52-week high of $148.29.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Monday, April 17th. The Internet television network reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. The firm earned $2.64 billion during the quarter, compared to analyst estimates of $2.64 billion. Netflix had a return on equity of 7.51% and a net margin of 2.11%. The firm’s quarterly revenue was up 34.7% on a year-over-year basis. During the same period last year, the company posted $0.06 EPS. On average, equities research analysts predict that Netflix will post $1.05 EPS for the current fiscal year.
In related news, CEO Reed Hastings sold 84,469 shares of the business’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $142.71, for a total transaction of $12,054,570.99. Following the transaction, the chief executive officer now directly owns 84,469 shares in the company, valued at $12,054,570.99. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard N. Barton sold 2,000 shares of the business’s stock in a transaction dated Wednesday, April 19th. The stock was sold at an average price of $145.38, for a total transaction of $290,760.00. Following the transaction, the director now owns 8,012 shares in the company, valued at $1,164,784.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 236,281 shares of company stock worth $34,047,161. 4.90% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NFLX. Covenant Asset Management LLC raised its stake in shares of Netflix by 440.5% in the first quarter. Covenant Asset Management LLC now owns 14,863 shares of the Internet television network’s stock valued at $2,197,000 after buying an additional 12,113 shares in the last quarter. Retirement Systems of Alabama raised its stake in shares of Netflix by 2.3% in the first quarter. Retirement Systems of Alabama now owns 208,054 shares of the Internet television network’s stock valued at $30,752,000 after buying an additional 4,647 shares in the last quarter. Glaxis Capital Management LLC bought a new stake in shares of Netflix during the first quarter valued at approximately $3,063,000. Johanson Financial Advisors Inc. bought a new stake in shares of Netflix during the first quarter valued at approximately $300,000. Finally, Columbus Circle Investors raised its stake in shares of Netflix by 3.7% in the first quarter. Columbus Circle Investors now owns 625,610 shares of the Internet television network’s stock valued at $92,471,000 after buying an additional 22,358 shares in the last quarter. Institutional investors and hedge funds own 80.42% of the company’s stock.
Netflix Company Profile
Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.
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