Netflix (NFLX) PT Lowered to $358.00

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Netflix (NASDAQ:NFLX) had its target price cut by Buckingham Research from $382.00 to $358.00 in a report issued on Wednesday, BenzingaRatingsTable reports. The firm presently has a “neutral” rating on the Internet television network’s stock. Buckingham Research’s price objective would suggest a potential upside of 0.40% from the stock’s previous close.

Several other research firms have also issued reports on NFLX. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $480.00 price target (up previously from $450.00) on shares of Netflix in a research report on Friday, January 18th. Morgan Stanley lifted their price target on Netflix from $430.00 to $450.00 and gave the stock an “overweight” rating in a research report on Friday, January 18th. Credit Suisse Group reaffirmed a “buy” rating and issued a $440.00 price target on shares of Netflix in a research report on Friday, January 18th. UBS Group reaffirmed an “outperform” rating and issued a $410.00 price target (down previously from $425.00) on shares of Netflix in a research report on Wednesday. Finally, Rosenblatt Securities reaffirmed a “hold” rating on shares of Netflix in a research report on Wednesday. Six analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $383.30.

Netflix stock traded down $2.90 on Wednesday, hitting $356.56. 7,954,407 shares of the stock traded hands, compared to its average volume of 7,023,976. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 1.98. The firm has a market capitalization of $152.32 billion, a P/E ratio of 133.04, a P/E/G ratio of 2.92 and a beta of 1.36. Netflix has a 1 year low of $231.23 and a 1 year high of $423.21.

Netflix (NASDAQ:NFLX) last posted 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. The firm had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.50 billion. Netflix had a return on equity of 25.82% and a net margin of 7.67%. Netflix’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 EPS. Analysts predict that Netflix will post 3.98 earnings per share for the current year.

In other news, Director Anne M. Sweeney sold 342 shares of the company’s stock in a transaction that occurred on Thursday, February 14th. The stock was sold at an average price of $360.00, for a total transaction of $123,120.00. Following the sale, the director now directly owns 342 shares of the company’s stock, valued at approximately $123,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Reed Hastings sold 52,458 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $367.25, for a total value of $19,265,200.50. Following the sale, the chief executive officer now directly owns 52,458 shares in the company, valued at $19,265,200.50. The disclosure for this sale can be found here. Insiders sold a total of 184,381 shares of company stock valued at $64,721,327 over the last 90 days. 4.29% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Gemmer Asset Management LLC raised its position in shares of Netflix by 12.4% in the 4th quarter. Gemmer Asset Management LLC now owns 271 shares of the Internet television network’s stock worth $73,000 after buying an additional 30 shares during the period. Argent Trust Co lifted its holdings in Netflix by 4.2% in the fourth quarter. Argent Trust Co now owns 748 shares of the Internet television network’s stock valued at $200,000 after buying an additional 30 shares during the period. Johnson Financial Group Inc. raised its holdings in Netflix by 3.9% in the fourth quarter. Johnson Financial Group Inc. now owns 800 shares of the Internet television network’s stock worth $214,000 after purchasing an additional 30 shares during the period. Versant Capital Management Inc raised its holdings in Netflix by 59.3% in the fourth quarter. Versant Capital Management Inc now owns 94 shares of the Internet television network’s stock worth $25,000 after purchasing an additional 35 shares during the period. Finally, Reilly Financial Advisors LLC raised its holdings in Netflix by 5.2% in the fourth quarter. Reilly Financial Advisors LLC now owns 708 shares of the Internet television network’s stock worth $190,000 after purchasing an additional 35 shares during the period. 76.10% of the stock is currently owned by institutional investors and hedge funds.

About Netflix

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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Analyst Recommendations for Netflix (NASDAQ:NFLX)

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