Netflix, Inc. (NFLX) Price Target Raised to $242.00

Netflix, Inc. (NASDAQ:NFLX) had its target price increased by analysts at Loop Capital from $228.00 to $242.00 in a research report issued to clients and investors on Tuesday, October 17th. The firm presently has a “buy” rating on the Internet television network’s stock. Loop Capital’s price target suggests a potential upside of 20.92% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Goldman Sachs Group, Inc. (The) set a $175.00 price target on shares of Netflix and gave the company a “buy” rating in a research report on Wednesday, June 28th. Guggenheim reiterated a “buy” rating and set a $180.00 target price (up previously from $175.00) on shares of Netflix in a research report on Tuesday, June 20th. Vetr lowered shares of Netflix from a “strong-buy” rating to a “buy” rating and set a $168.56 target price for the company. in a research report on Monday, June 19th. MKM Partners restated a “buy” rating and issued a $195.00 price objective on shares of Netflix in a research report on Monday, July 10th. Finally, Zacks Investment Research upgraded shares of Netflix from a “hold” rating to a “buy” rating and set a $173.00 price objective for the company in a research report on Thursday, July 13th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and thirty-three have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $207.20.

Netflix (NASDAQ:NFLX) traded up $0.12 on Tuesday, reaching $200.13. 4,687,380 shares of the company’s stock traded hands, compared to its average volume of 8,330,000. The firm has a market capitalization of $86,330.00, a P/E ratio of 202.03, a price-to-earnings-growth ratio of 5.91 and a beta of 1.39. 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 1 year low of $110.68 and a 1 year high of $204.38.

Netflix (NASDAQ:NFLX) last announced its earnings results on Monday, October 16th. The Internet television network reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.03). The firm had revenue of $2.99 billion during 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 business’s revenue for the quarter was up 30.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.12 EPS. analysts forecast that Netflix will post 1.27 earnings per share for the current year.

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In related news, General Counsel David A. Hyman sold 63,378 shares of the company’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $198.90, for a total value of $12,605,884.20. Following the completion of the sale, the general counsel now directly owns 43,071 shares of the company’s stock, valued at approximately $8,566,821.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Reed Hastings sold 93,380 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $166.07, for a total value of $15,507,616.60. Following the completion of the sale, the chief executive officer now directly owns 93,380 shares of the company’s stock, valued at $15,507,616.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 340,487 shares of company stock worth $62,816,777. 4.90% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NFLX. Quadrant Capital Group LLC grew its holdings in Netflix by 0.6% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,684 shares of the Internet television network’s stock valued at $229,000 after buying an additional 10 shares during the last quarter. Guardian Life Insurance Co. of America boosted its holdings in Netflix by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,655 shares of the Internet television network’s stock valued at $245,000 after acquiring an additional 11 shares during the last quarter. M Holdings Securities Inc. boosted its holdings in Netflix by 0.5% in the first quarter. M Holdings Securities Inc. now owns 2,467 shares of the Internet television network’s stock valued at $365,000 after acquiring an additional 12 shares during the last quarter. Heritage Investors Management Corp raised its position in Netflix by 0.6% in the second quarter. Heritage Investors Management Corp now owns 1,995 shares of the Internet television network’s stock valued at $298,000 after purchasing an additional 12 shares during the period. Finally, Kalos Management Inc. increased its position in shares of Netflix by 0.7% during the second quarter. Kalos Management Inc. now owns 1,621 shares of the Internet television network’s stock worth $242,000 after acquiring an additional 12 shares during the last quarter. 80.68% of the stock is owned by hedge funds and other institutional investors.

About Netflix

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.

Analyst Recommendations for Netflix (NASDAQ:NFLX)

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