Netflix, Inc. (NFLX) Price Target Raised to $240.00

Netflix, Inc. (NASDAQ:NFLX) had its price target raised by Piper Jaffray Companies to $240.00 in a research report sent to investors on Tuesday, October 17th. Piper Jaffray Companies currently has an overweight rating on the Internet television network’s stock.

Other analysts have also recently issued reports about the company. Atlantic Securities set a $235.00 price objective on Netflix and gave the company a buy rating in a research note on Tuesday, October 17th. SunTrust Banks, Inc. set a $175.00 price objective on Netflix and gave the company a hold rating in a research note on Monday, October 16th. Jefferies Group LLC reiterated a hold rating and issued a $165.00 price objective (down from $171.80) on shares of Netflix in a research note on Wednesday, August 9th. CIBC restated an outperform rating and issued a $245.00 price target (up from $215.00) on shares of Netflix in a research note on Tuesday, October 17th. Finally, Wedbush restated a sell rating on shares of Netflix in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and thirty-three have given a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $207.20.

Shares of Netflix (NASDAQ:NFLX) opened at 199.54 on Tuesday. Netflix has a one year low of $110.68 and a one year high of $204.38. The stock has a market cap of $86.28 billion, a price-to-earnings ratio of 199.34 and a beta of 1.09. The company has a 50-day moving average price of $188.02 and a 200 day moving average price of $168.64.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Monday, October 16th. The Internet television network reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.03). Netflix had a return on equity of 14.56% and a net margin of 4.04%. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same quarter last year, the company earned $0.12 earnings per share. The firm’s revenue for the quarter was up 30.3% on a year-over-year basis. Equities research analysts expect that Netflix will post $1.25 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: This piece of content was published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece of content on another website, it was illegally copied and republished in violation of US and international copyright & trademark laws. The legal version of this piece of content can be viewed at https://www.dispatchtribunal.com/2017/10/28/netflix-inc-nflx-pt-raised-to-240-00.html.

In related news, CEO Reed Hastings sold 83,335 shares of the company’s stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $192.79, for a total value of $16,066,154.65. Following the completion of the sale, the chief executive officer now owns 83,335 shares in the company, valued at approximately $16,066,154.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard N. Barton sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $165.72, for a total transaction of $331,440.00. Following the completion of the sale, the director now owns 8,012 shares of the company’s stock, valued at approximately $1,327,748.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 276,409 shares of company stock valued at $50,072,727. Company insiders own 4.90% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Netflix by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 27,950,272 shares of the Internet television network’s stock valued at $4,176,049,000 after acquiring an additional 789,190 shares in the last quarter. BlackRock Inc. lifted its position in Netflix by 1.7% in the 2nd quarter. BlackRock Inc. now owns 25,663,728 shares of the Internet television network’s stock worth $3,834,416,000 after buying an additional 423,968 shares in the last quarter. FMR LLC lifted its position in Netflix by 12.4% in the 2nd quarter. FMR LLC now owns 23,633,237 shares of the Internet television network’s stock worth $3,531,042,000 after buying an additional 2,605,731 shares in the last quarter. State Street Corp lifted its position in Netflix by 2.7% in the 1st quarter. State Street Corp now owns 17,535,737 shares of the Internet television network’s stock worth $2,591,946,000 after buying an additional 463,143 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in Netflix by 14.0% in the 2nd quarter. Jennison Associates LLC now owns 14,784,089 shares of the Internet television network’s stock worth $2,208,891,000 after buying an additional 1,814,056 shares in the last quarter. Institutional investors and hedge funds own 80.97% of the company’s stock.

Netflix Company Profile

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.

Analyst Recommendations for Netflix (NASDAQ:NFLX)

Receive News & Ratings for Netflix Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Netflix Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply