Bank of America Corporation Raises Netflix, Inc. (NFLX) Price Target to $225.00
A number of other research firms also recently weighed in on NFLX. Jefferies Group LLC set a $190.00 price objective on Netflix and gave the company a neutral rating in a report on Tuesday. Wedbush set a $93.00 price objective on Netflix and gave the company a sell rating in a report on Tuesday. FBR & Co reaffirmed a buy rating and set a $207.00 price objective (up from $172.00) on shares of Netflix in a report on Tuesday. Royal Bank Of Canada lifted their price objective on Netflix from $210.00 to $250.00 and gave the company an outperform rating in a report on Tuesday. Finally, Pivotal Research lifted their price objective on Netflix from $200.00 to $270.00 and gave the company a buy rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and thirty-four have assigned a buy rating to the stock. Netflix has an average rating of Buy and a consensus price target of $205.69.
Shares of Netflix (NASDAQ NFLX) traded down 0.50% on Tuesday, reaching $194.16. The company had a trading volume of 5,992,026 shares. The firm has a market capitalization of $83.96 billion, a PE ratio of 193.97 and a beta of 1.09. The company has a 50-day moving average price of $186.18 and a 200-day moving average price of $167.05. Netflix has a 52-week low of $98.38 and a 52-week high of $200.82.
Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Monday, October 16th. The Internet television network reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.03). The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.97 billion. Netflix had a net margin of 4.04% and a return on equity of 14.56%. The firm’s revenue for the quarter was up 30.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.12 earnings per share. Equities research analysts forecast that Netflix will post $1.25 EPS for the current fiscal year.
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In other Netflix news, CEO Reed Hastings sold 109,214 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 109,214 shares in the company, valued at $20,598,852.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan Friedland sold 3,622 shares of the firm’s stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of $194.89, for a total transaction of $705,891.58. The disclosure for this sale can be found here. Insiders sold 305,288 shares of company stock worth $55,168,715 in the last 90 days. Company insiders own 4.90% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Netflix by 2.9% in the second quarter. Vanguard Group Inc. now owns 27,950,272 shares of the Internet television network’s stock valued at $4,176,049,000 after buying an additional 789,190 shares in the last quarter. BlackRock Inc. raised its stake in shares of Netflix by 1.7% during the second quarter. BlackRock Inc. now owns 25,663,728 shares of the Internet television network’s stock valued at $3,834,416,000 after acquiring an additional 423,968 shares during the last quarter. FMR LLC raised its stake in shares of Netflix by 12.4% during the second quarter. FMR LLC now owns 23,633,237 shares of the Internet television network’s stock valued at $3,531,042,000 after acquiring an additional 2,605,731 shares during the last quarter. State Street Corp raised its stake in shares of Netflix by 2.7% during the first quarter. State Street Corp now owns 17,535,737 shares of the Internet television network’s stock valued at $2,591,946,000 after acquiring an additional 463,143 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in shares of Netflix by 14.0% during the second quarter. Jennison Associates LLC now owns 14,784,089 shares of the Internet television network’s stock valued at $2,208,891,000 after acquiring an additional 1,814,056 shares during the last quarter. Hedge funds and other institutional investors own 81.02% 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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