Rosenblatt Securities reaffirmed their neutral rating on shares of Netflix (NASDAQ:NFLX) in a report issued on Wednesday morning, AnalystRatings.com reports. Rosenblatt Securities currently has a $370.00 target price on the Internet television network’s stock, up from their previous target price of $350.00.
“We increase our price target to $370 driven by a higher implied target multiple and slightly higher international estimates. Pivoting to churn reduction content strategy as domestic scale reached and content competition intensifies. The primary driver of gross adds to SVOD services is first run, high quality original series. NFLX has been successful in this category, most recently by reporting 41M HH watching Stranger Things season 3 in the first five days of launch. However, binge watching drives the need to create even more content. In order to fill the time between original series NFLX has increasingly focused on individual originals like comedy specials, documentaries and movies.”,” Rosenblatt Securities’ analyst wrote.
Several other research analysts have also issued reports on the stock. BidaskClub lowered shares of Walgreens Boots Alliance from a sell rating to a strong sell rating in a report on Monday, June 24th. Wedbush raised their price target on shares of Netflix from $165.00 to $183.00 and gave the stock an underperform rating in a report on Wednesday, April 17th. Pivotal Research reaffirmed a buy rating and set a $500.00 price objective on shares of Netflix in a research report on Tuesday, April 16th. Imperial Capital reaffirmed an outperform rating and set a $78.00 price objective (down previously from $83.00) on shares of Spirit Airlines in a research report on Friday, April 26th. Finally, Loop Capital initiated coverage on shares of TENCENT HOLDING/ADR in a research report on Monday, June 3rd. They set a buy rating for the company. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $393.24.
Netflix stock opened at $373.25 on Wednesday. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.81. Netflix has a 52-week low of $231.23 and a 52-week high of $410.00. The stock’s 50 day moving average price is $361.38. The company has a market cap of $165.92 billion, a price-to-earnings ratio of 139.27, a price-to-earnings-growth ratio of 3.78 and a beta of 1.26.
Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Tuesday, April 16th. The Internet television network reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.19. Netflix had a net margin of 7.61% and a return on equity of 24.75%. The firm had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.50 billion. During the same quarter last year, the business earned $0.64 EPS. The company’s revenue was up 22.2% compared to the same quarter last year. Equities research analysts expect that Netflix will post 3.35 EPS for the current fiscal year.
In other Netflix news, Director Ann Mather sold 1,208 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $375.00, for a total transaction of $453,000.00. Following the transaction, the director now directly owns 357 shares in the company, valued at approximately $133,875. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Reed Hastings sold 57,414 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $348.88, for a total value of $20,030,596.32. Following the transaction, the chief executive officer now owns 57,414 shares in the company, valued at $20,030,596.32. The disclosure for this sale can be found here. In the last three months, insiders sold 167,486 shares of company stock valued at $60,955,416. 4.29% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of the business. Altman Advisors Inc. lifted its stake in Netflix by 0.8% during the 2nd quarter. Altman Advisors Inc. now owns 4,793 shares of the Internet television network’s stock valued at $1,761,000 after acquiring an additional 37 shares in the last quarter. Diversified Trust Co lifted its stake in Netflix by 3.7% during the 2nd quarter. Diversified Trust Co now owns 12,571 shares of the Internet television network’s stock valued at $4,618,000 after acquiring an additional 450 shares in the last quarter. Lenox Wealth Advisors LLC lifted its stake in Netflix by 12.1% during the 2nd quarter. Lenox Wealth Advisors LLC now owns 416 shares of the Internet television network’s stock valued at $153,000 after acquiring an additional 45 shares in the last quarter. NN Investment Partners Holdings N.V. lifted its stake in Netflix by 43.6% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 5,041 shares of the Internet television network’s stock valued at $1,852,000 after acquiring an additional 1,531 shares in the last quarter. Finally, Evolution Wealth Advisors LLC lifted its stake in Netflix by 31.9% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 919 shares of the Internet television network’s stock valued at $338,000 after acquiring an additional 222 shares in the last quarter. Institutional investors and hedge funds own 77.02% of the company’s stock.
Netflix Company Profile
Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.
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