Netflix, Inc. (NFLX) Given a $88.00 Price Target by Wedbush Analysts
Netflix, Inc. (NASDAQ:NFLX) has been given a $88.00 price target by Wedbush in a research note issued on Friday. The firm currently has a “sell” rating on the Internet television network’s stock. Wedbush’s price objective would indicate a potential downside of 54.73% from the stock’s previous close.
NFLX has been the subject of several other research reports. Sanford C. Bernstein set a $203.00 price objective on shares of Netflix and gave the company a “buy” rating in a research note on Wednesday, August 30th. Canaccord Genuity raised their price objective on shares of Netflix from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, June 16th. Morgan Stanley reissued an “overweight” rating and issued a $185.00 price objective (up previously from $175.00) on shares of Netflix in a research note on Thursday, July 13th. Royal Bank Of Canada reissued an “outperform” rating and issued a $175.00 price objective on shares of Netflix in a research note on Friday, June 16th. Finally, Vetr lowered shares of Netflix from a “sell” rating to a “strong sell” rating and set a $162.49 price objective for the company. in a research note on Monday, September 18th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirty-one have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $184.20.
Netflix (NFLX) traded up 0.95% during midday trading on Friday, reaching $196.23. 11,794,574 shares of the company’s stock traded hands. Netflix has a 1-year low of $97.63 and a 1-year high of $198.92. The firm’s 50-day moving average is $177.87 and its 200-day moving average is $163.29. The company has a market capitalization of $84.72 billion, a price-to-earnings ratio of 238.72 and a beta of 1.09. Netflix also saw unusually large options trading activity on Thursday. Investors acquired 122,784 call options on the stock. This is an increase of approximately 283% compared to the average daily volume of 32,078 call options.
Netflix (NASDAQ:NFLX) last announced its earnings results on Monday, July 17th. The Internet television network reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.01). The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.76 billion. Netflix had a return on equity of 12.82% and a net margin of 3.55%. The company’s quarterly revenue was up 32.3% compared to the same quarter last year. During the same period last year, the business earned $0.09 EPS. Analysts forecast that Netflix will post $1.17 earnings per share for the current year.
In related news, Director Richard N. Barton sold 2,000 shares of the stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $179.89, for a total value of $359,780.00. Following the completion of the transaction, the director now owns 7,930 shares in the company, valued at approximately $1,426,527.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Reed Hastings sold 109,214 shares of the stock in a transaction on Monday, July 24th. The shares were sold at an average price of $188.61, for a total value of $20,598,852.54. Following the completion of the transaction, the chief executive officer now owns 109,214 shares of the company’s stock, valued at approximately $20,598,852.54. The disclosure for this sale can be found here. Insiders sold a total of 310,325 shares of company stock valued at $55,807,018 in the last quarter. 4.90% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Netflix by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 27,950,272 shares of the Internet television network’s stock valued at $4,176,049,000 after purchasing an additional 789,190 shares during the period. BlackRock Inc. boosted its position in Netflix by 1.7% during the 2nd quarter. BlackRock Inc. now owns 25,663,728 shares of the Internet television network’s stock worth $3,834,416,000 after acquiring an additional 423,968 shares during the period. FMR LLC boosted its position in Netflix by 12.4% during the 2nd quarter. FMR LLC now owns 23,633,237 shares of the Internet television network’s stock worth $3,531,042,000 after acquiring an additional 2,605,731 shares during the period. State Street Corp boosted its position in Netflix by 2.7% during the 1st quarter. State Street Corp now owns 17,535,737 shares of the Internet television network’s stock worth $2,591,946,000 after acquiring an additional 463,143 shares during the period. Finally, Jennison Associates LLC boosted its position in Netflix by 14.0% during the 2nd quarter. Jennison Associates LLC now owns 14,784,089 shares of the Internet television network’s stock worth $2,208,891,000 after acquiring an additional 1,814,056 shares during the period. Institutional investors and hedge funds own 81.03% of the company’s stock.
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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