Netflix, Inc. (NFLX) Given New $270.00 Price Target at Pivotal Research

Netflix, Inc. (NASDAQ:NFLX) had its price target raised by Pivotal Research from $200.00 to $270.00 in a report released on Tuesday, October 17th, MarketBeat Ratings reports. Pivotal Research currently has a buy rating on the Internet television network’s stock.

Several other brokerages have also recently commented on NFLX. Raymond James Financial, Inc. reiterated an outperform rating and issued a $205.00 target price (up from $165.00) on shares of Netflix in a report on Tuesday, July 18th. Stifel Nicolaus upped their target price on Netflix from $200.00 to $230.00 and gave the company a buy rating in a report on Thursday, October 12th. J P Morgan Chase & Co reiterated an overweight rating and issued a $225.00 target price (up from $210.00) on shares of Netflix in a report on Friday, October 13th. Cantor Fitzgerald reiterated an overweight rating and issued a $190.00 target price on shares of Netflix in a report on Thursday, July 13th. Finally, Vetr upgraded Netflix from a strong sell rating to a sell rating and set a $177.49 target price on the stock in a report on Tuesday, September 19th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and thirty-three have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $207.20.

Shares of Netflix (NFLX) traded up 2.22% on Tuesday, reaching $199.54. 8,128,567 shares of the company’s stock traded hands. The company’s 50-day moving average is $189.03 and its 200-day moving average is $169.22. The firm has a market capitalization of $86.28 billion, a P/E ratio of 199.34 and a beta of 1.09. Netflix has a 52 week low of $110.68 and a 52 week high of $204.38.

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

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In other news, CEO Reed Hastings sold 93,380 shares of Netflix stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $166.07, for a total value of $15,507,616.60. Following the sale, the chief executive officer now directly owns 93,380 shares in the company, valued at approximately $15,507,616.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Leslie J. Kilgore sold 868 shares of Netflix stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $202.00, for a total value of $175,336.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 276,409 shares of company stock worth $50,072,727. Corporate insiders own 4.90% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Horseman Capital Management Ltd grew its position in shares of Netflix by 50.0% in the 3rd quarter. Horseman Capital Management Ltd now owns 9,000 shares of the Internet television network’s stock worth $1,632,000 after buying an additional 3,000 shares during the last quarter. YorkBridge Wealth Partners LLC grew its position in shares of Netflix by 10.3% in the 3rd quarter. YorkBridge Wealth Partners LLC now owns 10,790 shares of the Internet television network’s stock worth $1,957,000 after buying an additional 1,005 shares during the last quarter. Rosenblum Silverman Sutton S F Inc. CA grew its position in shares of Netflix by 11.6% in the 3rd quarter. Rosenblum Silverman Sutton S F Inc. CA now owns 38,030 shares of the Internet television network’s stock worth $6,897,000 after buying an additional 3,958 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in shares of Netflix in the 3rd quarter worth approximately $5,087,000. Finally, Raymond James Financial Services Advisors Inc. grew its position in shares of 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 worth $17,439,000 after buying an additional 7,006 shares during the last quarter. Hedge funds and other institutional investors own 80.97% of the company’s stock.

About Netflix

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)

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