Netflix (NFLX) Price Target Raised to $360.00 at Guggenheim

Netflix (NASDAQ:NFLX) had its price objective hoisted by investment analysts at Guggenheim from $285.00 to $360.00 in a research note issued to investors on Wednesday, March 14th. The brokerage presently has a “buy” rating on the Internet television network’s stock. Guggenheim’s price objective suggests a potential upside of 24.63% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Piper Jaffray boosted their price target on Netflix to $360.00 and gave the stock an “overweight” rating in a report on Friday, March 9th. Sanford C. Bernstein reissued an “outperform” rating and issued a $340.00 price target (up from $302.00) on shares of Netflix in a report on Friday, March 9th. Stifel Nicolaus cut Netflix from a “buy” rating to a “hold” rating and boosted their price target for the stock from $283.00 to $325.00 in a report on Tuesday, March 6th. Macquarie lifted their price objective on Netflix from $275.00 to $330.00 and gave the company an “outperform” rating in a research report on Monday, March 5th. Finally, UBS lifted their price objective on Netflix from $290.00 to $345.00 and gave the company a “buy” rating in a research report on Monday, March 5th. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Netflix has a consensus rating of “Buy” and an average target price of $257.79.

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Shares of Netflix stock traded down $5.12 during trading on Wednesday, reaching $288.85. The company’s stock had a trading volume of 11,444,777 shares, compared to its average volume of 11,092,241. The company has a market cap of $125,345.88, a PE ratio of 231.08, a price-to-earnings-growth ratio of 3.96 and a beta of 0.99. Netflix has a 12-month low of $138.66 and a 12-month high of $333.98. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.40 and a quick ratio of 1.40.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Monday, January 22nd. The Internet television network reported $0.41 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.41. The firm had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.28 billion. Netflix had a return on equity of 17.20% and a net margin of 4.78%. Netflix’s revenue was up 32.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.15 earnings per share. equities research analysts anticipate that Netflix will post 2.73 EPS for the current fiscal year.

In related news, Director Richard N. Barton sold 700 shares of the stock in a transaction that occurred on Thursday, April 5th. The stock was sold at an average price of $283.39, for a total value of $198,373.00. Following the completion of the transaction, the director now directly owns 7,393 shares of the company’s stock, valued at approximately $2,095,102.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Reed Hastings sold 75,369 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $225.52, for a total value of $16,997,216.88. Following the completion of the transaction, the chief executive officer now directly owns 75,369 shares of the company’s stock, valued at $16,997,216.88. The disclosure for this sale can be found here. Insiders sold a total of 452,009 shares of company stock valued at $121,912,410 over the last three months. Corporate insiders own 4.90% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Balentine LLC boosted its stake in Netflix by 1,020.4% during the 3rd quarter. Balentine LLC now owns 549 shares of the Internet television network’s stock valued at $100,000 after purchasing an additional 500 shares in the last quarter. James Hambro & Partners bought a new position in Netflix during the 4th quarter valued at $106,000. Duncker Streett & Co. Inc. boosted its stake in Netflix by 47.1% during the 4th quarter. Duncker Streett & Co. Inc. now owns 625 shares of the Internet television network’s stock valued at $120,000 after purchasing an additional 200 shares in the last quarter. Wagner Wealth Management LLC bought a new position in Netflix during the 4th quarter valued at $125,000. Finally, Crewe Advisors LLC bought a new position in Netflix during the 4th quarter valued at $149,000. 81.62% of the stock is owned by institutional investors and hedge funds.

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About Netflix

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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