Netflix (NFLX) PT Raised to $385.00

Netflix (NASDAQ:NFLX) had its target price lifted by KeyCorp from $300.00 to $385.00 in a research report report published on Tuesday morning. KeyCorp currently has an overweight rating on the Internet television network’s stock. KeyCorp also issued estimates for Netflix’s Q2 2018 earnings at $0.79 EPS, Q3 2018 earnings at $0.88 EPS, Q4 2018 earnings at $0.87 EPS, FY2018 earnings at $3.19 EPS, Q1 2019 earnings at $1.10 EPS, Q2 2019 earnings at $1.28 EPS, Q3 2019 earnings at $1.38 EPS, Q4 2019 earnings at $1.48 EPS and FY2019 earnings at $5.24 EPS.

NFLX has been the topic of a number of other reports. Vetr downgraded shares of Netflix from a hold rating to a sell rating and set a $266.74 price target on the stock. in a report on Thursday, February 22nd. Raymond James increased their price target on shares of Netflix from $290.00 to $330.00 and gave the stock an outperform rating in a report on Tuesday, April 10th. Credit Suisse Group reissued a neutral rating and issued a $266.00 price target (up from $224.00) on shares of Netflix in a report on Tuesday, January 23rd. Loop Capital increased their price target on shares of Netflix from $237.00 to $241.00 and gave the stock a buy rating in a report on Tuesday, January 2nd. Finally, Buckingham Research reissued a neutral rating and issued a $251.00 price target (up from $235.00) on shares of Netflix in a report on Thursday, January 18th. Four investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $293.44.

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Shares of Netflix stock opened at $332.70 on Tuesday. Netflix has a 12-month low of $139.27 and a 12-month high of $338.82. The stock has a market capitalization of $145,164.42, a PE ratio of 266.16, a PEG ratio of 4.37 and a beta of 0.99. The company has a current ratio of 1.30, a quick ratio of 1.40 and a debt-to-equity ratio of 1.63.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Monday, April 16th. The Internet television network reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.01. Netflix had a net margin of 5.26% and a return on equity of 19.11%. The firm had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the prior year, the firm posted $0.40 earnings per share. The company’s revenue for the quarter was up 40.3% on a year-over-year basis. analysts anticipate that Netflix will post 2.87 earnings per share for the current year.

In related news, CEO Reed Hastings sold 75,369 shares of Netflix stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $225.52, for a total value of $16,997,216.88. Following the sale, the chief executive officer now owns 75,369 shares in the company, valued at $16,997,216.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director A George Battle sold 10,716 shares of Netflix stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $258.49, for a total transaction of $2,769,978.84. Following the completion of the sale, the director now owns 2,575 shares in the company, valued at approximately $665,611.75. The disclosure for this sale can be found here. Insiders sold 442,200 shares of company stock worth $119,779,880 in the last 90 days. Company insiders own 4.90% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its holdings in Netflix by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 4,400,513 shares of the Internet television network’s stock valued at $842,878,000 after acquiring an additional 143,321 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Netflix by 4.4% in the fourth quarter. Bank of New York Mellon Corp now owns 3,798,067 shares of the Internet television network’s stock valued at $729,077,000 after acquiring an additional 159,750 shares in the last quarter. First Trust Advisors LP boosted its holdings in Netflix by 9.7% in the fourth quarter. First Trust Advisors LP now owns 1,979,971 shares of the Internet television network’s stock valued at $380,075,000 after acquiring an additional 174,630 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Netflix by 22.5% in the fourth quarter. Wells Fargo & Company MN now owns 1,934,754 shares of the Internet television network’s stock valued at $371,396,000 after acquiring an additional 354,801 shares in the last quarter. Finally, Tybourne Capital Management HK Ltd. boosted its holdings in Netflix by 43.4% in the fourth quarter. Tybourne Capital Management HK Ltd. now owns 1,673,200 shares of the Internet television network’s stock valued at $321,187,000 after acquiring an additional 506,700 shares in the last quarter. Institutional investors and hedge funds own 81.65% of the company’s stock.

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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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