Credit Suisse Group Analysts Give Netflix (NFLX) a $470.00 Price Target

Credit Suisse Group set a $470.00 target price on Netflix (NASDAQ:NFLX) in a report published on Wednesday morning. The firm currently has a buy rating on the Internet television network’s stock.

A number of other research firms also recently weighed in on NFLX. UBS Group downgraded Netflix from a buy rating to a neutral rating and decreased their price target for the company from $425.00 to $237.00 in a research note on Wednesday, July 11th. Goldman Sachs Group restated a $375.13 rating and issued a $470.00 price target on shares of Netflix in a research note on Wednesday, July 18th. Atlantic Securities restated a buy rating and issued a $413.00 price target on shares of Netflix in a research note on Monday, September 3rd. SunTrust Banks boosted their target price on Netflix from $270.00 to $415.00 and gave the stock a hold rating in a research report on Friday, July 13th. Finally, Wells Fargo & Co boosted their target price on Netflix from $370.00 to $385.00 and gave the stock an outperform rating in a research report on Tuesday, July 17th. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirty-one have given a buy rating to the company’s stock. Netflix presently has a consensus rating of Buy and an average target price of $376.83.

Shares of Netflix stock traded down $14.04 during trading on Wednesday, reaching $332.67. The company’s stock had a trading volume of 16,690,754 shares, compared to its average volume of 12,670,742. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.39 and a quick ratio of 1.54. Netflix has a 12-month low of $178.38 and a 12-month high of $423.21. The company has a market cap of $150.98 billion, a PE ratio of 266.14, a price-to-earnings-growth ratio of 4.40 and a beta of 0.89.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Tuesday, October 16th. The Internet television network reported $0.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.21. Netflix had a return on equity of 29.52% and a net margin of 8.48%. The firm had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.99 billion. During the same period in the previous year, the business earned $0.29 earnings per share. The company’s revenue for the quarter was up 34.0% compared to the same quarter last year. On average, equities research analysts anticipate that Netflix will post 2.63 EPS for the current fiscal year.

In other news, insider Theodore A. Sarandos sold 111,391 shares of the business’s stock in a transaction on Monday, July 23rd. The stock was sold at an average price of $360.00, for a total value of $40,100,760.00. Following the completion of the transaction, the insider now directly owns 16,065 shares of the company’s stock, valued at $5,783,400. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Timothy M. Haley sold 21,882 shares of the business’s stock in a transaction on Tuesday, October 16th. The stock was sold at an average price of $336.41, for a total value of $7,361,323.62. Following the completion of the transaction, the director now directly owns 9,177 shares of the company’s stock, valued at $3,087,234.57. The disclosure for this sale can be found here. Over the last three months, insiders sold 403,334 shares of company stock valued at $142,463,785. Insiders own 4.29% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NFLX. BlackRock Inc. increased its stake in Netflix by 2.3% in the second quarter. BlackRock Inc. now owns 27,436,409 shares of the Internet television network’s stock valued at $10,739,434,000 after purchasing an additional 619,795 shares during the last quarter. FMR LLC increased its stake in Netflix by 6.1% in the second quarter. FMR LLC now owns 26,511,408 shares of the Internet television network’s stock valued at $10,377,360,000 after purchasing an additional 1,534,290 shares during the last quarter. Edgewood Management LLC increased its stake in Netflix by 2.3% in the second quarter. Edgewood Management LLC now owns 2,523,740 shares of the Internet television network’s stock valued at $987,868,000 after purchasing an additional 55,566 shares during the last quarter. Morgan Stanley increased its stake in Netflix by 1.6% in the second quarter. Morgan Stanley now owns 2,364,657 shares of the Internet television network’s stock valued at $925,600,000 after purchasing an additional 37,425 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in Netflix by 4.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,581,565 shares of the Internet television network’s stock valued at $619,072,000 after purchasing an additional 65,394 shares during the last quarter. 73.83% of the stock is owned by 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.

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Analyst Recommendations for Netflix (NASDAQ:NFLX)

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