Netflix (NFLX) Given New $385.00 Price Target at Loop Capital

Netflix (NASDAQ:NFLX) had its price target hoisted by Loop Capital from $365.00 to $385.00 in a research note published on Wednesday, The Fly reports.

Several other equities research analysts also recently commented on the company. Imperial Capital reduced their price objective on Netflix from $503.00 to $494.00 and set an outperform rating for the company in a report on Monday, August 13th. Canaccord Genuity lifted their price objective on Netflix from $350.00 to $500.00 and gave the stock a buy rating in a report on Thursday, July 12th. Citigroup lifted their price objective on Netflix to $375.00 and gave the stock a neutral rating in a report on Wednesday, September 12th. Guggenheim lifted their price objective on Netflix from $360.00 to $420.00 and gave the stock a buy rating in a report on Wednesday, September 19th. Finally, Credit Suisse Group reiterated a buy rating and issued a $470.00 price objective on shares of Netflix in a report on Monday, October 1st. Five research analysts have rated the stock with a sell rating, twelve have given a hold rating and thirty have given a buy rating to the company’s stock. Netflix currently has a consensus rating of Buy and a consensus target price of $375.90.

NASDAQ NFLX traded down $10.56 during trading hours on Wednesday, hitting $354.14. The company’s stock had a trading volume of 129,865 shares, compared to its average volume of 10,958,524. Netflix has a 12 month low of $178.38 and a 12 month high of $423.21. The company has a market capitalization of $162.92 billion, a price-to-earnings ratio of 287.60, a PEG ratio of 4.67 and a beta of 0.89. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.54 and a current ratio of 1.54.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Tuesday, October 16th. The Internet television network reported $0.89 EPS for the quarter, topping the consensus estimate of $0.68 by $0.21. Netflix had a return on equity of 25.66% and a net margin of 7.13%. The company had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same period last year, the company earned $0.29 EPS. Netflix’s revenue for the quarter was up 34.0% on a year-over-year basis. On average, equities analysts predict that Netflix will post 2.67 earnings per share for the current fiscal year.

In other news, CEO Reed Hastings sold 99,883 shares of Netflix stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $368.25, for a total transaction of $36,781,914.75. Following the transaction, the chief executive officer now directly owns 99,883 shares of the company’s stock, valued at approximately $36,781,914.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Theodore A. Sarandos sold 111,391 shares of Netflix stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $360.00, for a total value of $40,100,760.00. Following the transaction, the insider now directly owns 16,065 shares in the company, valued at $5,783,400. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 381,452 shares of company stock worth $135,102,461. Insiders own 4.29% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Aperio Group LLC raised its stake in Netflix by 3.9% during the 3rd quarter. Aperio Group LLC now owns 238,144 shares of the Internet television network’s stock valued at $89,097,000 after purchasing an additional 8,919 shares during the period. Sitrin Capital Management LLC raised its stake in Netflix by 2.1% during the 3rd quarter. Sitrin Capital Management LLC now owns 16,593 shares of the Internet television network’s stock valued at $6,208,000 after purchasing an additional 345 shares during the period. Highland Capital Management LLC raised its stake in Netflix by 30.3% during the 3rd quarter. Highland Capital Management LLC now owns 11,838 shares of the Internet television network’s stock valued at $4,429,000 after purchasing an additional 2,753 shares during the period. BB&T Corp raised its stake in Netflix by 4.6% during the 3rd quarter. BB&T Corp now owns 4,390 shares of the Internet television network’s stock valued at $1,642,000 after purchasing an additional 192 shares during the period. Finally, Coastline Trust Co raised its stake in Netflix by 169.0% during the 3rd quarter. Coastline Trust Co now owns 3,908 shares of the Internet television network’s stock valued at $1,462,000 after purchasing an additional 2,455 shares during the period. 73.76% of the stock is currently owned by hedge funds and other institutional investors.

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.

Read More: What is the 52-week high/low?

The Fly

Analyst Recommendations for Netflix (NASDAQ:NFLX)

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


Leave a Reply