Netflix (NASDAQ:NFLX) had its target price boosted by equities research analysts at Goldman Sachs Group from $400.00 to $450.00 in a research report issued on Tuesday, Borsen Zeitung reports. The firm presently has a “buy” rating on the Internet television network’s stock. Goldman Sachs Group’s target price points to a potential upside of 33.49% from the company’s previous close.
Several other research analysts have also recently weighed in on the stock. Pivotal Research upped their price objective on shares of Netflix from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Sanford C. Bernstein reduced their price target on shares of Netflix from $450.00 to $422.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Zacks Investment Research cut shares of Netflix from a “hold” rating to a “sell” rating and set a $295.00 price target on the stock. in a research report on Friday, October 11th. Royal Bank of Canada reduced their price target on shares of Netflix from $450.00 to $420.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Finally, Citigroup cut shares of Netflix from a “buy” rating to a “neutral” rating and reduced their price target for the company from $410.00 to $325.00 in a research report on Tuesday, December 3rd. Five equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $373.29.
Shares of NFLX stock traded down $1.97 during trading on Tuesday, hitting $337.10. The company had a trading volume of 2,132,838 shares, compared to its average volume of 5,200,361. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.81. The stock’s 50-day moving average is $320.71 and its two-hundred day moving average is $308.14. The stock has a market capitalization of $148.46 billion, a price-to-earnings ratio of 125.78, a price-to-earnings-growth ratio of 2.07 and a beta of 1.28. Netflix has a 52 week low of $252.28 and a 52 week high of $385.99.
Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Wednesday, October 16th. The Internet television network reported $1.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.42. The company had revenue of $5.25 billion for the quarter, compared to analysts’ expectations of $5.25 billion. Netflix had a net margin of 7.49% and a return on equity of 23.65%. Netflix’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.89 earnings per share. On average, research analysts predict that Netflix will post 3.33 EPS for the current fiscal year.
In other news, CEO Reed Hastings sold 40,061 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $275.64, for a total value of $11,042,414.04. Following the transaction, the chief executive officer now owns 40,061 shares in the company, valued at $11,042,414.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.29% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Winthrop Partners WNY LLC lifted its stake in Netflix by 64.9% in the third quarter. Winthrop Partners WNY LLC now owns 94 shares of the Internet television network’s stock worth $25,000 after acquiring an additional 37 shares during the period. 1 North Wealth Services LLC purchased a new position in Netflix during the third quarter valued at $25,000. Intercontinental Wealth Advisors LLC grew its stake in shares of Netflix by 100.0% during the 3rd quarter. Intercontinental Wealth Advisors LLC now owns 96 shares of the Internet television network’s stock valued at $26,000 after purchasing an additional 48 shares during the period. Fulcrum Equity Management bought a new stake in shares of Netflix during the 3rd quarter valued at about $27,000. Finally, CX Institutional bought a new stake in shares of Netflix during the 3rd quarter valued at about $35,000. 80.80% of the stock is owned by institutional investors.
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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