Netflix Inc. (NFLX) PT Raised to $115.00
Netflix Inc. (NASDAQ:NFLX) had its price target lifted by equities researchers at SunTrust Banks Inc. from $110.00 to $115.00 in a research note issued to investors on Tuesday. The firm presently has a “hold” rating on the Internet television network’s stock. SunTrust Banks Inc.’s price target indicates a potential upside of 15.23% from the company’s current price.
Several other research analysts have also issued reports on NFLX. Credit Suisse Group AG lowered their price target on shares of Netflix from $132.00 to $130.00 and set a “neutral” rating for the company in a report on Tuesday. Deutsche Bank AG raised their price target on shares of Netflix from $90.00 to $92.00 and gave the stock a “sell” rating in a report on Tuesday. Robert W. Baird raised their price target on shares of Netflix from $94.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday. Morgan Stanley raised their price target on shares of Netflix from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Citigroup Inc. reiterated a “hold” rating and issued a $120.00 price objective (up previously from $92.00) on shares of Netflix in a research note on Tuesday. Seven investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-eight have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $115.35.
Netflix (NASDAQ:NFLX) opened at 99.80 on Tuesday. Netflix has a 52 week low of $79.95 and a 52 week high of $133.27. The company has a market capitalization of $42.79 billion, a P/E ratio of 311.88 and a beta of 1.14. The firm has a 50 day moving average of $98.99 and a 200-day moving average of $96.28.
Netflix (NASDAQ:NFLX) last posted its earnings results on Monday, October 17th. The Internet television network reported $0.12 EPS for the quarter, topping the consensus estimate of $0.06 by $0.06. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same period last year, the company earned $0.07 EPS. The firm’s revenue was up 31.7% compared to the same quarter last year. On average, analysts forecast that Netflix will post $0.28 earnings per share for the current year.
In related news, Director Jay C. Hoag acquired 600,000 shares of the company’s stock in a transaction dated Monday, July 25th. The shares were bought at an average cost of $86.43 per share, with a total value of $51,858,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard N. Barton sold 2,800 shares of the stock in a transaction dated Thursday, October 6th. The shares were sold at an average price of $104.27, for a total transaction of $291,956.00. Following the completion of the transaction, the director now directly owns 15,254 shares in the company, valued at $1,590,534.58. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of NFLX. Winslow Capital Management LLC bought a new position in shares of Netflix during the second quarter valued at $209,447,000. Capital World Investors raised its position in Netflix by 32.4% in the second quarter. Capital World Investors now owns 6,656,926 shares of the Internet television network’s stock worth $608,976,000 after buying an additional 1,630,881 shares in the last quarter. Jericho Capital Asset Management L.P. acquired a new position in Netflix during the first quarter worth approximately $94,076,000. Capital Research Global Investors raised its position in Netflix by 1.5% in the second quarter. Capital Research Global Investors now owns 49,967,802 shares of the Internet television network’s stock worth $4,571,055,000 after buying an additional 761,325 shares in the last quarter. Finally, Criterion Capital Management LLC raised its position in Netflix by 241.5% in the second quarter. Criterion Capital Management LLC now owns 991,469 shares of the Internet television network’s stock worth $90,700,000 after buying an additional 701,119 shares in the last quarter. 78.41% of the stock is currently owned by institutional investors.
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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