Sanford C. Bernstein reaffirmed their outperform rating on shares of Netflix (NASDAQ:NFLX) in a report published on Friday, March 9th, Marketbeat.com reports. The brokerage currently has a $340.00 target price on the Internet television network’s stock, up from their prior target price of $302.00.
NFLX has been the subject of several other research reports. Credit Suisse Group set a $224.00 price objective on Netflix and gave the company a neutral rating in a research report on Monday, January 8th. BidaskClub downgraded Netflix from a buy rating to a hold rating in a report on Saturday, December 2nd. Vetr upgraded Netflix from a buy rating to a strong-buy rating and set a $214.83 price objective for the company in a report on Friday, December 22nd. Wedbush reiterated an underperform rating and issued a $110.00 price objective (up from $93.00) on shares of Netflix in a report on Tuesday, January 23rd. Finally, Loop Capital boosted their price target on Netflix from $237.00 to $241.00 and gave the company a buy rating in a research note on Tuesday, January 2nd. Four equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and an average price target of $258.55.
Shares of NFLX stock traded down $15.06 during trading on Friday, hitting $280.29. The company had a trading volume of 13,378,833 shares, compared to its average volume of 11,285,892. Netflix has a 52 week low of $138.66 and a 52 week high of $333.98. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.81. The stock has a market cap of $128,166.67, a price-to-earnings ratio of 224.23, a price-to-earnings-growth ratio of 4.05 and a beta of 0.99.
Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Monday, January 22nd. The Internet television network reported $0.41 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.41. Netflix had a return on equity of 17.20% and a net margin of 4.78%. The firm had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.28 billion. During the same quarter in the prior year, the firm posted $0.15 earnings per share. The business’s quarterly revenue was up 32.6% compared to the same quarter last year. sell-side analysts forecast that Netflix will post 2.73 EPS for the current fiscal year.
In other news, Director A George Battle sold 10,716 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $258.49, for a total value of $2,769,978.84. Following the completion of the sale, the director now directly owns 2,575 shares of the company’s stock, valued at approximately $665,611.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard N. Barton sold 700 shares of the business’s stock in a transaction dated Tuesday, March 20th. The shares were sold at an average price of $314.38, for a total value of $220,066.00. Following the completion of the sale, the director now directly owns 7,393 shares of the company’s stock, valued at $2,324,211.34. The disclosure for this sale can be found here. Insiders have sold a total of 454,899 shares of company stock valued at $122,453,300 over the last ninety days. 4.90% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of NFLX. Ark Investment Management LLC increased its position in Netflix by 37.4% in the 2nd quarter. Ark Investment Management LLC now owns 62,715 shares of the Internet television network’s stock valued at $9,370,000 after acquiring an additional 17,064 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in Netflix by 7.9% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 96,162 shares of the Internet television network’s stock valued at $17,439,000 after acquiring an additional 7,006 shares during the period. Dupont Capital Management Corp acquired a new position in Netflix in the 3rd quarter valued at about $400,000. Gamco Investors INC. ET AL acquired a new position in Netflix in the 3rd quarter valued at about $601,000. Finally, Gabelli Funds LLC acquired a new position in Netflix in the 3rd quarter valued at about $4,280,000. Hedge funds and other institutional investors own 81.62% of the company’s stock.
Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. It operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. The company offers TV shows and movies, including original series, documentaries, and feature films.
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