Netflix (NASDAQ:NFLX) received a $435.00 target price from investment analysts at Cowen in a research report issued on Tuesday, TipRanks reports. The brokerage currently has a “buy” rating on the Internet television network’s stock. Cowen’s price target points to a potential upside of 53.75% from the company’s previous close.
Other equities analysts have also issued research reports about the stock. KeyCorp restated a “hold” rating on shares of Netflix in a report on Tuesday, September 24th. Evercore ISI reduced their target price on shares of Netflix from $380.00 to $300.00 and set an “in-line” rating on the stock in a report on Monday. Credit Suisse Group set a $440.00 target price on shares of Netflix and gave the company a “buy” rating in a report on Thursday. Loop Capital set a $425.00 target price on shares of Netflix and gave the company a “buy” rating in a report on Monday, September 23rd. Finally, Rosenblatt Securities reduced their target price on shares of Netflix from $330.00 to $265.00 and set a “neutral” rating on the stock in a report on Wednesday. Five analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $371.13.
Shares of NASDAQ:NFLX traded up $2.45 during midday trading on Tuesday, hitting $282.93. 8,551,232 shares of the company’s stock traded hands, compared to its average volume of 8,054,564. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $123.88 billion, a PE ratio of 105.57, a P/E/G ratio of 2.78 and a beta of 1.20. The firm’s fifty day moving average price is $282.01 and its two-hundred day moving average price is $334.28. Netflix has a twelve month low of $231.23 and a twelve month high of $385.99.
Netflix (NASDAQ:NFLX) last posted its earnings results on Wednesday, July 17th. The Internet television network reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.04. The business had revenue of $4.92 billion for the quarter, compared to analyst estimates of $4.93 billion. Netflix had a net margin of 6.53% and a return on equity of 20.88%. The business’s quarterly revenue was up 26.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.85 EPS. As a group, equities research analysts anticipate that Netflix will post 3.25 EPS for the current fiscal year.
In other news, CEO Reed Hastings sold 43,372 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $266.57, for a total value of $11,561,674.04. Following the completion of the sale, the chief executive officer now owns 43,372 shares of the company’s stock, valued at approximately $11,561,674.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bradford L. Smith bought 6,499 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was bought at an average cost of $308.49 per share, with a total value of $2,004,876.51. Following the transaction, the director now directly owns 799 shares in the company, valued at approximately $246,483.51. The disclosure for this purchase can be found here. Insiders sold a total of 150,983 shares of company stock valued at $44,378,164 in the last three months. Insiders own 4.29% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hartford Investment Management Co. increased its position in shares of Netflix by 0.8% in the 2nd quarter. Hartford Investment Management Co. now owns 53,204 shares of the Internet television network’s stock worth $19,543,000 after purchasing an additional 447 shares during the last quarter. Bailard Inc. boosted its holdings in shares of Netflix by 14.6% in the 2nd quarter. Bailard Inc. now owns 787 shares of the Internet television network’s stock valued at $289,000 after buying an additional 100 shares during the period. NumerixS Investment Technologies Inc acquired a new position in shares of Netflix in the 2nd quarter valued at about $4,353,000. Gryphon Financial Partners LLC acquired a new position in shares of Netflix in the 2nd quarter valued at about $372,000. Finally, Dearborn Partners LLC boosted its holdings in shares of Netflix by 10.4% in the 2nd quarter. Dearborn Partners LLC now owns 1,106 shares of the Internet television network’s stock valued at $406,000 after buying an additional 104 shares during the period. 78.96% of the stock is owned by institutional investors.
Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.
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