Royal Bank Of Canada Boosts Netflix Inc. (NFLX) Price Target to $150.00
Netflix Inc. (NASDAQ:NFLX) had its price target raised by investment analysts at Royal Bank Of Canada from $130.00 to $150.00 in a research note issued to investors on Tuesday. The firm presently has an “outperform” rating on the Internet television network’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 50.30% from the company’s previous close.
A number of other brokerages have also recently issued reports on NFLX. FBR & Co reissued a “market perform” rating and issued a $90.00 target price on shares of Netflix in a research report on Wednesday, October 5th. Deutsche Bank AG initiated 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 stock a “buy” rating in a research report on Monday, October 10th. Vetr cut 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 reaffirmed a “neutral” rating and set a $94.00 price objective on shares of Netflix in a research report on Tuesday, October 4th. Seven investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $113.50.
Shares of 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 firm has a market capitalization of $42.79 billion, a price-to-earnings ratio of 311.88 and a beta of 1.14. The stock has a 50 day moving average price of $98.99 and a 200-day moving average price of $96.28.
Netflix (NASDAQ:NFLX) last announced its earnings results on Monday, October 17th. The Internet television network reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. The firm earned $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Netflix had a return on equity of 5.59% and a net margin of 1.85%. The business’s revenue was up 31.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.07 EPS. On average, analysts anticipate that Netflix will post $0.28 EPS for the current year.
In other news, Director Richard N. Barton sold 2,800 shares of the company’s 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 owns 15,254 shares of the company’s stock, valued at $1,590,534.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Reed Hastings sold 116,431 shares of the company’s stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $86.59, for a total transaction of $10,081,760.29. Following the transaction, the chief executive officer now directly owns 116,431 shares of the company’s stock, valued at approximately $10,081,760.29. The disclosure for this sale can be found here. Insiders own 4.90% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in NFLX. Cornerstone Advisors Inc. raised its position in shares of Netflix by 25.6% in the second quarter. Cornerstone Advisors Inc. now owns 1,118 shares of the Internet television network’s stock worth $102,000 after buying an additional 228 shares in the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in Netflix during the second quarter valued at about $124,000. Quadrant Capital Group LLC raised its position in Netflix by 15.1% in the second quarter. Quadrant Capital Group LLC now owns 1,475 shares of the Internet television network’s stock valued at $126,000 after buying an additional 194 shares during the period. Coconut Grove Bank raised its position in Netflix by 1.7% in the second quarter. Coconut Grove Bank now owns 1,526 shares of the Internet television network’s stock valued at $140,000 after buying an additional 26 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. raised its position in Netflix by 15.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,690 shares of the Internet television network’s stock valued at $155,000 after buying an additional 224 shares during the period. 78.41% of the stock is owned by institutional investors and hedge funds.
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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