Netflix (NASDAQ:NFLX) Price Target Cut to $400.00 by Analysts at Morgan Stanley

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Netflix (NASDAQ:NFLX) had its price objective trimmed by Morgan Stanley from $450.00 to $400.00 in a research note released on Monday, AnalystRatings.com reports. The firm currently has an overweight rating on the Internet television network’s stock.

NFLX has been the subject of a number of other research reports. Monness Crespi & Hardt decreased their target price on Netflix from $440.00 to $340.00 and set a buy rating for the company in a report on Wednesday, October 9th. Rosenblatt Securities decreased their price target on Netflix from $330.00 to $265.00 and set a neutral rating on the stock in a research note on Wednesday, October 9th. Loop Capital set a $425.00 price objective on Netflix and gave the company a buy rating in a report on Monday, September 23rd. KeyCorp restated a hold rating on shares of Netflix in a report on Tuesday, September 24th. Finally, Imperial Capital set a $451.00 price target on Netflix and gave the stock a buy rating in a report on Thursday, September 12th. Five research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $368.95.

Shares of NASDAQ NFLX traded down $0.82 during midday trading on Monday, reaching $284.71. 146,138 shares of the stock traded hands, compared to its average volume of 9,477,129. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $124.10 billion, a PE ratio of 106.20, a P/E/G ratio of 2.90 and a beta of 1.20. Netflix has a one year low of $231.23 and a one year high of $385.99. The company’s 50 day moving average is $281.17 and its 200 day moving average is $332.73.

Netflix (NASDAQ:NFLX) last posted its earnings results on Wednesday, July 17th. The Internet television network reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. Netflix had a return on equity of 20.88% and a net margin of 6.53%. The firm had revenue of $4.92 billion during the quarter, compared to the consensus estimate of $4.93 billion. During the same period in the prior year, the company earned $0.85 EPS. The company’s quarterly revenue was up 26.0% compared to the same quarter last year. As a group, equities analysts forecast that Netflix will post 3.25 EPS for the current year.

In related news, Director Bradford L. Smith acquired 6,499 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was acquired at an average price of $308.49 per share, for a total transaction of $2,004,876.51. Following the completion of the acquisition, the director now owns 799 shares of the company’s stock, valued at approximately $246,483.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Reed Hastings sold 55,342 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $309.54, for a total transaction of $17,130,562.68. Following the sale, the chief executive officer now owns 55,342 shares of the company’s stock, valued at approximately $17,130,562.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 150,983 shares of company stock valued at $44,378,164. 3.72% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Dixon Hubard Feinour & Brown Inc. VA boosted its position in Netflix by 0.4% during the first quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 7,290 shares of the Internet television network’s stock worth $2,599,000 after purchasing an additional 30 shares during the period. Abbrea Capital LLC boosted its position in Netflix by 2.4% during the second quarter. Abbrea Capital LLC now owns 1,382 shares of the Internet television network’s stock worth $508,000 after purchasing an additional 32 shares during the period. Lindbrook Capital LLC boosted its position in Netflix by 2.8% during the second quarter. Lindbrook Capital LLC now owns 1,259 shares of the Internet television network’s stock worth $462,000 after purchasing an additional 34 shares during the period. Cornerstone Advisors Inc. boosted its position in Netflix by 1.8% during the second quarter. Cornerstone Advisors Inc. now owns 1,968 shares of the Internet television network’s stock worth $723,000 after purchasing an additional 35 shares during the period. Finally, Baxter Bros Inc. boosted its position in Netflix by 3.0% during the second quarter. Baxter Bros Inc. now owns 1,226 shares of the Internet television network’s stock worth $450,000 after purchasing an additional 36 shares during the period. Institutional investors and hedge funds own 78.98% of the company’s stock.

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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