Loop Capital Increases Netflix, Inc. (NFLX) Price Target to $172.00

Netflix, Inc. (NASDAQ:NFLX) had its price objective increased by equities researchers at Loop Capital from $162.00 to $172.00 in a research report issued to clients and investors on Wednesday, April 19th. The brokerage currently has an “outperform” rating on the Internet television network’s stock. Loop Capital’s price objective would suggest a potential upside of 8.90% from the company’s current price.

A number of other brokerages also recently issued reports on NFLX. FBR & Co reaffirmed a “market perform” rating and set a $100.00 price target on shares of Netflix in a research report on Tuesday, January 17th. Instinet upped their price target on Netflix from $130.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, January 19th. Jefferies Group LLC upped their price target on Netflix from $80.00 to $95.00 and gave the stock an “underperform” rating in a research report on Thursday, January 19th. BMO Capital Markets upped their price target on Netflix from $115.00 to $150.00 and gave the stock a “market perform” rating in a research report on Thursday, January 19th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $140.00 price target on shares of Netflix in a research report on Wednesday, December 21st. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twenty-six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $146.42.

Analyst Recommendations for Netflix (NASDAQ:NFLX)

Shares of Netflix (NASDAQ:NFLX) opened at 157.95 on Wednesday. Netflix has a one year low of $84.50 and a one year high of $161.78. The company has a market cap of $68.08 billion, a P/E ratio of 204.33 and a beta of 1.27. The company’s 50-day moving average price is $151.20 and its 200 day moving average price is $137.78.

Netflix (NASDAQ:NFLX) last posted its earnings results on Monday, April 17th. The Internet television network reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.64 billion. Netflix had a return on equity of 7.51% and a net margin of 2.11%. Netflix’s revenue was up 34.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.06 earnings per share. On average, equities research analysts anticipate that Netflix will post $1.04 earnings per share for the current year.

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In other news, General Counsel David A. Hyman sold 14,021 shares of Netflix stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $150.00, for a total transaction of $2,103,150.00. Following the completion of the sale, the general counsel now directly owns 41,629 shares of the company’s stock, valued at approximately $6,244,350. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Reed Hastings sold 101,815 shares of the business’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $157.13, for a total transaction of $15,998,190.95. Following the completion of the sale, the chief executive officer now directly owns 101,815 shares of the company’s stock, valued at $15,998,190.95. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 385,587 shares of company stock valued at $57,493,358. Corporate insiders own 4.90% of the company’s stock.

A number of large investors have recently made changes to their positions in NFLX. Achmea Investment Management B.V. bought a new stake in shares of Netflix during the first quarter worth $2,245,000. Bank of Nova Scotia boosted its stake in shares of Netflix by 3.3% in the first quarter. Bank of Nova Scotia now owns 9,912 shares of the Internet television network’s stock worth $1,465,000 after buying an additional 319 shares during the period. Meridian Wealth Management LLC bought a new stake in shares of Netflix during the first quarter worth $441,000. Green Square Capital LLC bought a new stake in shares of Netflix during the first quarter worth $678,000. Finally, Point72 Asset Management L.P. boosted its stake in shares of Netflix by 79.6% in the first quarter. Point72 Asset Management L.P. now owns 760,772 shares of the Internet television network’s stock worth $112,450,000 after buying an additional 337,072 shares during the period. 80.42% of the stock is owned by hedge funds and other institutional investors.

Netflix Company Profile

Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.

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