CIBC reissued their outperform rating on shares of Netflix, Inc. (NASDAQ:NFLX) in a research note released on Tuesday, October 17th. The brokerage currently has a $245.00 price target on the Internet television network’s stock, up from their previous price target of $215.00.
A number of other brokerages have also recently issued reports on NFLX. Piper Jaffray Companies reiterated a buy rating and issued a $215.00 price objective on shares of Netflix in a report on Monday, September 18th. Loop Capital upped their price objective on shares of Netflix from $228.00 to $242.00 and gave the stock a buy rating in a report on Tuesday, October 17th. Royal Bank Of Canada reiterated an outperform rating and issued a $210.00 price objective on shares of Netflix in a report on Friday, October 6th. Vetr upgraded shares of Netflix from a sell rating to a hold rating and set a $165.75 price target for the company in a report on Thursday, August 10th. Finally, MKM Partners restated a buy rating and set a $195.00 price target on shares of Netflix in a report on Monday, July 10th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and thirty-three have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $207.20.
Netflix (NFLX) traded up $0.12 during trading on Tuesday, hitting $200.13. 4,687,380 shares of the stock traded hands, compared to its average volume of 8,330,000. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.20 and a current ratio of 1.20. Netflix has a fifty-two week low of $110.68 and a fifty-two week high of $204.38. The stock has a market cap of $86,330.00, a PE ratio of 202.03, a P/E/G ratio of 5.91 and a beta of 1.39.
Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Monday, October 16th. The Internet television network reported $0.29 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.03). The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.97 billion. Netflix had a net margin of 4.04% and a return on equity of 14.56%. The company’s revenue was up 30.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.12 earnings per share. research analysts anticipate that Netflix will post 1.27 earnings per share for the current year.
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In other news, insider Jonathan Friedland sold 3,622 shares of the firm’s stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of $194.89, for a total value of $705,891.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard N. Barton sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $165.72, for a total transaction of $331,440.00. Following the completion of the transaction, the director now owns 8,012 shares of the company’s stock, valued at $1,327,748.64. The disclosure for this sale can be found here. Insiders have sold 340,487 shares of company stock valued at $62,816,777 in the last quarter. Company insiders own 4.90% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in NFLX. OppenheimerFunds Inc. raised its stake in Netflix by 1.6% in the first quarter. OppenheimerFunds Inc. now owns 7,528 shares of the Internet television network’s stock valued at $1,113,000 after purchasing an additional 117 shares in the last quarter. Teachers Advisors LLC raised its stake in Netflix by 2.0% in the first quarter. Teachers Advisors LLC now owns 1,300,531 shares of the Internet television network’s stock valued at $192,231,000 after purchasing an additional 25,266 shares in the last quarter. W.G. Shaheen & Associates DBA Whitney & Co purchased a new stake in Netflix in the first quarter valued at approximately $208,000. Turner Investments LLC purchased a new stake in Netflix in the first quarter valued at approximately $417,000. Finally, Stephens Inc. AR raised its stake in Netflix by 12.4% in the first quarter. Stephens Inc. AR now owns 7,427 shares of the Internet television network’s stock valued at $1,098,000 after purchasing an additional 821 shares in the last quarter. 80.68% of the stock is currently owned by institutional investors and hedge funds.
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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