Netflix (NFLX) PT Raised to $420.00

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Netflix (NASDAQ:NFLX) had its price objective lifted by Piper Jaffray Companies from $367.00 to $420.00 in a research note released on Tuesday, Marketbeat Ratings reports. The firm currently has an overweight rating on the Internet television network’s stock.

Several other brokerages also recently issued reports on NFLX. Monness Crespi & Hardt upped their price target on shares of Netflix from $375.00 to $460.00 and gave the stock a buy rating in a research report on Tuesday. Oppenheimer reiterated a buy rating and set a $370.00 price target on shares of Netflix in a research report on Thursday, June 14th. Royal Bank of Canada reissued a buy rating and set a $360.00 price objective on shares of Netflix in a report on Friday, June 1st. MKM Partners boosted their price objective on Netflix from $320.00 to $390.00 and gave the stock a buy rating in a report on Tuesday, May 29th. Finally, Vetr cut Netflix from a hold rating to a sell rating and set a $303.70 price objective for the company. in a report on Wednesday, April 18th. Four research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirty-one have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Netflix presently has a consensus rating of Buy and a consensus target price of $300.45.

Shares of NASDAQ NFLX opened at $411.09 on Tuesday. The stock has a market cap of $181.16 billion, a P/E ratio of 328.87, a P/E/G ratio of 5.41 and a beta of 1.00. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.30 and a current ratio of 1.30. Netflix has a 12-month low of $144.25 and a 12-month high of $423.21.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Monday, April 16th. The Internet television network reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.01. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.69 billion. Netflix had a net margin of 5.26% and a return on equity of 19.11%. The firm’s quarterly revenue was up 40.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 EPS. sell-side analysts forecast that Netflix will post 2.89 earnings per share for the current fiscal year.

In other news, Director Richard N. Barton sold 700 shares of the stock in a transaction that occurred on Friday, June 22nd. The stock was sold at an average price of $420.57, for a total value of $294,399.00. Following the completion of the sale, the director now owns 7,393 shares of the company’s stock, valued at approximately $3,109,274.01. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gregory K. Peters sold 7,133 shares of the stock in a transaction that occurred on Thursday, May 24th. The shares were sold at an average price of $350.00, for a total value of $2,496,550.00. Following the completion of the sale, the insider now directly owns 20,223 shares of the company’s stock, valued at approximately $7,078,050. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 287,982 shares of company stock valued at $102,435,098. Insiders own 4.29% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Trustcore Financial Services LLC boosted its holdings in shares of Netflix by 5.9% in the 1st quarter. Trustcore Financial Services LLC now owns 2,933 shares of the Internet television network’s stock valued at $866,000 after buying an additional 163 shares during the last quarter. Mason Street Advisors LLC boosted its holdings in shares of Netflix by 0.3% in the 1st quarter. Mason Street Advisors LLC now owns 60,448 shares of the Internet television network’s stock valued at $17,853,000 after buying an additional 172 shares during the last quarter. Gamco Investors INC. ET AL boosted its holdings in shares of Netflix by 5.5% in the 1st quarter. Gamco Investors INC. ET AL now owns 3,439 shares of the Internet television network’s stock valued at $1,016,000 after buying an additional 179 shares during the last quarter. Arete Wealth Advisors LLC boosted its holdings in shares of Netflix by 5.2% in the 1st quarter. Arete Wealth Advisors LLC now owns 4,013 shares of the Internet television network’s stock valued at $1,185,000 after buying an additional 198 shares during the last quarter. Finally, FUKOKU MUTUAL LIFE INSURANCE Co boosted its holdings in shares of Netflix by 11.4% in the 1st quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,950 shares of the Internet television network’s stock valued at $576,000 after buying an additional 200 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

About Netflix

Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. It operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. The company offers TV shows and movies, including original series, documentaries, and feature films.

Analyst Recommendations for Netflix (NASDAQ:NFLX)

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